The precious metals market recorded a significant pause this week, after months of euphoria. Gold and silver prices fell for the second day in a rowstopping a rally that had taken the gold metal to historical highs and a performance of more than 60% since the beginning of 2025.
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Gold, which reached $4,381.51 per ounce on Mondayhit a minimum of $4,000 this Wednesday, dragged down by profit-taking, the strengthening of the dollar, as well as an environment of lower geopolitical tension.
Silver prices, which had followed the bullish trend of gold, also suffered setbacks. The decline marked a technical correction after weeks of overbought and analysts highlight that, after a prolonged period of unidirectional flows towards metals, institutional investors chose to consolidate gains due to the delay in expectations of rate cuts by the Federal Reserve.
“The glorious rise of gold Gravity finally met”said Stephen Innes of SPI Asset Management, underscoring the magnitude of the adjustment.
Gold outlook in recent days
From a macroeconomic perspective, the context became less favorable for this precious material, as US Treasury bond yields remain high, increasing the relative profitability of fixed income assets, while the dollar regains ground against other currencies. In this scenario, the appeal of gold as a refuge moderated.
“The set of factors weakened the buying appetite, in an environment of natural correction after a long rally,” explained Antonio Montiel, director of analysis at ATFX Education. The impact was also felt in the stock markets: Northern Star Resources fell more than 8% in Sydney, Perseus Mining lost 6% and Zijin Gold International fell more than 4% in Hong Kong.
Despite the adjustment, analysts consider that the medium-term bias is positive. Central bank purchases inflationary pressures and geopolitical tensions They continue to support gold’s role as a structural safe haven asset.
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The current correction, they warn, could be interpreted as a break within an uptrend wider.