Gold and silver futures pulled back Thursday after both metals reached record highs in the prior session, this as easing geopolitical tensions and profit-taking combined to cool safe-haven demand.

Global metals prices extended their searing rally Wednesday, with gold, silver, and copper all hitting all-time highs amid a surge in demand tied to geopolitical risks, currency debasement, and industrial demand.

Precious metals pull back after bullion's historic surge past $4,600, though geopolitical turmoil and tariff threats keep bullish sentiment intact

Gold and silver have achieved new record highs for the first time in 2026, reflecting mounting concerns over institutional independence and geopolitical stability. In spot market trading, gold reached $4,630 per ounce while silver touched $86.24 per ounce before retreating to $4,594 and $84.90 respectively by the time of writing.

Gold and silver posted substantial weekly gains, marking the fifth positive week out of the last seven for gold and the sixth for silver. The precious metals complex demonstrated remarkable strength, driven by a confluence of geopolitical instability and shifting expectations regarding Federal Reserve monetary policy.

Gold demonstrated notable resilience during Thursday's trading session, recovering from an intraday low of $4,415 to close at $4,487, marking a $20.80 gain. The recovery underscored the yellow metal's ability to maintain its footing near historically elevated levels, even as broader market dynamics suggest increasing uncertainty ahead.

As 2025 enters into our memories and the record books, silver markets have been experiencing an extraordinary, forced liquidation event that is rapidly evolving into what many analysts are calling a fundamental restructuring of global precious metals markets. Spot prices plummeted -10% during a single session during the final week of December.

Despite gold's ascent to successive all-time highs in 2025 and new all-time highs being made today, American institutional and retail investors have maintained remarkably tepid exposure to the precious metal, presenting what Goldman Sachs analysts characterize as a significant structural opportunity for continued price appreciation.

Precious metals posted substantial gains Monday as heightened geopolitical tensions following the weekend capture of Venezuelan President Nicolas Maduro by United States forces sparked a flight to safe-haven assets.

Silver futures staged a dramatic recovery Tuesday, rebounding from the previous session's sharp decline in the latest demonstration of the precious metal's exceptional volatility during what has been a breakout year for the commodity.