Gold and silver prices have extended their recovery rally, gaining momentum as market participants recalibrate expectations for US monetary policy.
The rebound marks a significant shift from the bearish sentiment that weighed on precious metals earlier in the month, driven by a confluence of macroeconomic data and geopolitical developments.
The primary catalyst for the latest upside is the easing of fears regarding an imminent interest rate hike by the US Federal Reserve.
A softer-than-expected US jobs report released recently has reduced pressure on the central bank to tighten policy further, providing a tailwind for non-yielding assets like gold.
This follows a period of volatility where hawkish Fed signals had previously suppressed demand for precious metals.
Geopolitical dynamics are also supporting the recovery.