Gold and silver prices traded largely steady, with analysts saying the broader outlook for precious metals remains constructive despite short-term fluctuations.
Market participants pointed to a continued “underlying bullish trend,” supported by expectations of easing monetary policy, geopolitical uncertainty and sustained demand for safe-haven assets. Gold prices edged higher following the latest U.S. jobs report, which showed signs of cooling in the labour market and reinforced speculation that the Federal Reserve could move closer to interest rate cuts.
Lower interest rate expectations typically benefit non-yielding assets such as gold and silver, as they reduce the opportunity cost of holding precious metals. Analysts also noted that central bank buying, particularly from emerging markets, continues to provide a solid demand base for gold.
Silver prices mirrored gold’s movement, holding firm amid optimism around both its safe-haven appeal and its industrial demand, especially from the renewable energy and electronics sectors. While silver remains more volatile than gold, traders say its long-term fundamentals remain intact.
Overall, commodity strategists argue that while prices may consolidate in the near term, the combination of macroeconomic uncertainty, inflation hedging and shifting monetary conditions keeps the medium- to long-term outlook for gold and silver tilted to the upside.
