After a week of intense volatility and heavy losses, gold and silver prices recorded a modest recovery during Asian trading on Friday, supported by bargain buying from investors. However, silver continued to lag behind and was on track to post a sharp weekly decline of around 14%, after losing most of its recent gains. Gold,
meanwhile, saw a comparatively smaller weekly drop but was trading nearly $800 below its recent record high, failing to hold the key $5,000-per-ounce level and ending the week with a decline of about 0.9%. Analysts noted that strong market liquidity and relatively cautious investor sentiment helped limit the selling pressure in the gold market. According to OCBC analysts, the $70–$90 range remains a crucial support zone for silver; if prices fail to hold above this level, they could fall further toward the $58–$60 range, although sustained trading within this band could eventually trigger a fresh upward momentum.
Other precious metals also remained under pressure, with platinum falling to around $1,953 per ounce. The recent decline in metal markets was largely driven by a stronger US dollar, which gained momentum after former President Donald Trump nominated Kevin Warsh as the next Federal Reserve Chair, a move perceived as less dovish and supportive of tighter monetary policy.
