Precious Metals Rebound After Monday's Selloff
Precious metals prices rebounded on Tuesday, with gold climbing 1.3%, silver 3.5%, and platinum 3.3%. This recovery follows a sharp selloff on Monday, as structural support from a weaker U.S. dollar and geopolitical uncertainty persisted.
Insights:
Precious metals markets demonstrated their resilience on Tuesday, rebounding sharply after a significant selloff on Monday. Spot gold rose 1.3% to $4,387.29 per ounce, while U.S. gold futures were also up 1.3% at $4,401.90. This recovery comes on the back of gold's impressive 66% year-to-date gain, marking its strongest annual performance since 1979. Silver prices surged 3.5% to $74.78 per ounce, following a 159% increase in 2024, driven by strong investor demand and structural supply-demand dynamics. Similarly, platinum rose 3.3% to $2,177.55 per ounce, highlighting the underlying strength of the market despite recent volatility.
