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A gold and silver reset, not a reversal
After plunging from record highs amid elevated volatility, gold and silver attracted renewed buying interest as broader market conditions stabilised and the US dollar softened. While near-term volatility is likely to persist, we view the recent move primarily as a positioning-driven reset rather than a fundamental turning point. The recent sell-off in precious metals was remarkable for both its speed and magnitude. On Friday, gold experienced its steepest one-day decline since 2013, while silver recorded its largest daily drop on record. The sell-off in silver and gold on Friday was followed by further weakness on ... (full story)