Gold's recent 25% pullback reflects shifting macro conditions, but persistent inflation, geopolitical risks and lower real interest rates should support gold prices, while gold stocks have attractive cash flow, margins and valuations, according to Imaru Casanova, Portfolio Manager at Van Eck.Casanova noted that the gold price saw elevated volatility in the first half of 2026 as it fell from the edge of $5,600 per ounce in late January to a low of $3,943 at the end of June.
Spot gold and silver prices are higher ahead of the North American market open Wednesday, as buyers extended this week's rebound while traders weighed softer recent U.S. inflation data, resilient activity readings, elevated oil prices and next week's Federal Reserve meeting. At the time of writing, spot gold was trading near $4,125.10 an ounce, up 1.19%, while spot silver was trading near $59.44, up 1.32% on the session.
Gold advanced in Asian trade. Prices were likely supported by a broad pullback in global bond yields and a softer dollar as markets weigh the prospect of renewed U.S.-Iran talks, said Tickmill.
Spot gold and silver prices are sharply higher in late-afternoon U.S. trading Tuesday, as short covering and renewed haven demand lifted metals despite rising Treasury yields, a firmer U.S. dollar and another jump in crude oil prices tied to the U.S.-Iran conflict.
Gold has broken above key trend resistance, with a potential double bottom developing, but a major test near $4,203 could determine whether the reversal gains momentum.
Although gold continues to struggle below $4,100 an ounce as investors brace for the possibility of higher interest rates, one market strategist says the precious metal has reached a point where the downside risks are becoming increasingly limited while the long-term upside remains compelling.
The gold market rallied a bit early on Tuesday, but is still seeing a bit of downward pressure after short-term rallies.
Spot gold and silver prices are higher ahead of the North American market open Tuesday, as short covering lifted precious metals after last week's selloff while Treasury yields, the U.S. dollar and crude oil prices remained firm.
For the last few years, China's buying patterns have been an excellent investment signal on gold
Is gold losing its luster? The price of the yellow metal has dropped from well over $5,000 earlier this year to $4,000 today.
Gold edged higher in Asian trade. Physical demand for the metal, particularly in China, and central bank buying are underpinning the gold market, ANZ said.
Gold balances strong central bank buying against higher-for-longer Fed expectations. See the latest outlook for XAUUSD and XAGUSD.