Silver and gold prices stage a cautious rebound — but analysts see slim hopes for a sustained rally

Precious metals have rallied in recent days after a sustained period of selling pressure, but analysts say gold and silver prices could face a difficult path back to all-time highs achieved earlier this year. Spot silver traded at $59.47 an ounce in early trading on Wednesday (6:33 a.m. ET), up by around 6.3% from $55.9/oz at the end of last week. Spot gold traded around 2.4% higher over the same period at $4,119.04/oz.In a Wednesday note, ING commodities strategists Warren Patterson and Ewa Manthey attributed gains to "bargain hunting after recent weakness" rather than "a material shift in the geopolitical or macroeconomic backdrop."Stock Chart IconStock chart iconGold and silver spot prices remain well below all-time highs achieved in late January, Silver could outperform, gold could languish Both precious metals remain well below all-time highs achieved earlier this year after a blistering rally that extended throughout and beyond 2025. Both achieved their all-time highs in late January, when spot gold hit $5,589.38/oz and silver hit $121.67/oz. Higher interest rates and a stronger U.S. dollar have taken the shine off the precious metals, as higher oil prices brought about by th...