Editor’s Note
After a recent rally, precious metals saw a sharp reversal on Thursday. This article tracks the latest price movements for gold and silver.
After a strong rally in recent days, gold and silver reversed course and slipped back into the red, with silver prices plunging more than 15 per cent and gold declining over three per cent on Thursday. In last two days, gold prices rebounded sharply after a major crash in international and domestic markets. Silver prices have also bounced back and are on track for weekly gains. Experts are of the view that geopolitical uncertainties are here to stay and in such times gold and silver will continue to serve as safe haven assets. A recent Reuters poll predicts gold having a good 2026 after a record breaking 2025. Global central banks’ buying is expected to continue contributing to the rise in gold prices.
Silver saw price swings on Friday, rebounding by up to 3% after tumbling 10% earlier in the session to below $65 an ounce, a level not seen in over six weeks. Despite the bounce, the metal remained nearly 16% lower for the week, coming off an 18% drop last week, its biggest weekly fall since 2011.
Global stock markets extended their decline into a third session as Wall Street’s sell-off deepened, with sharp volatility gripping precious metals and cryptocurrencies.
Gold and silver edged higher on Friday but were still set for a second straight weekly loss, after a global sell-off in tech stocks and a stronger US dollar erased gains from a brief rebound earlier in the week. Spot gold climbed 1.1% to $4,822.69 an ounce by 0320 GMT, though it remained down 1.2% for the week. US gold futures for April delivery slipped 1% to $4,840.40 an ounce.
Silver remained volatile on Thursday, plunging 12.1% in its latest sharp swing after last week’s record-breaking rally abruptly ran out of steam.
Gold also retreated, slipping 1.9% to $4,855 an ounce.
Both metals had surged as investors rushed into assets seen as safer amid political uncertainty, concerns over lofty US stock market valuations and swelling government debt globally.
Ponmudi R, CEO of Enrich Money, described the recent decline as a phase of normal consolidation rather than a reversal of the overall trend.
He noted that strong buying interest has emerged in the $4,700–$4,800 support range, adding that continued stability above these levels could support a fresh upward move, while a breakout beyond $5,100–$5,200 may open the way for a return toward earlier record highs.
A reduction in geopolitical tensions has weakened the safe-haven demand for bullion. Officials from both Iran and the United States confirmed that the two sides will hold talks in Oman on Friday, a development that could ease nuclear-related tensions that had previously supported precious metal prices.
Gold and silver prices have witnessed significant fluctuations in recent months, following a strong upward trend over the past year that has been punctuated by sudden swings. The movement in both metals has remained volatile as markets respond to global uncertainty, shifts in currency movements, and changing investor sentiment.
According to an ET report, a Motilal Oswal Private Wealth report has suggested a gradual accumulation strategy during price corrections for investors seeking moderate medium-term returns. It also advised partial profit-booking in silver for those holding large positions, while recommending staggered buying during declines for investors with little or no exposure.
Gold and silver experienced significant declines amid extreme market volatility.