Precious Metals' Cautious Rebound: More Mirage Than Miracle The recent uptick in gold and silver prices has been met with a mix of relief and skepticism from analysts.
After a prolonged period of selling pressure, spot silver is trading at $59. 47 an ounce, up 6. 3% from last week's close, while gold has inched 2. 4% higher over the same period.
ING commodities strategists Warren Patterson and Ewa Manthey attribute the gains to investors taking advantage of recent weakness rather than any fundamental shift in market dynamics.