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Gold and silver rebound after crash, but traders stay cautious
Gold is up about 14% since July 31 to roughly $4,380 per troy ounce, while silver is up nearly 20% to $69.50.
Gold and silver have rebounded after a prolonged slide, with gold rising all month and ending Aug. 21 around $4,380 per troy ounce, up about 14% since July 31. Silver is also higher, up nearly 20% to $69.50 an ounce, according to Yahoo Finance’s market coverage.
The rally follows a sharp reversal after precious metals surged through 2025 and then stalled at the end of January. The article says futures exchanges tightened trading rules, effectively increasing the cash required to trade in gold and silver futures.
It also points to Fed leadership expectations and macro shocks as key drivers of the prior downturn. After President Donald Trump nominated Kevin Warsh to be Federal Reserve chairman on Jan. 29, the piece says traders expected an inflation hawk, and it adds that the start of the Middle East war on Feb. 28 contributed to higher oil and fuel prices and stronger inflation pressure, which hurt metals.
More recently, the article cites renewed momentum for related exchange traded funds, noting that since gold and silver bottomed in mid July, GLD is up 16% and SLV is up 24%. It also says Citigroup analysts expect gold to close above $5,000 this year and reach $6,000 in 2027, and mentions Treasury Secretary Scott Bessent’s comments about a buyback plan coming this month, without providing additional details in the excerpt.
Latest closeGold $4,432.00 ▲1.6%|Silver $64.83 ▼0.1%