Commerzbank forecasts gold and silver recovery by year-end as de-escalation in Middle East tensions offsets recent oil-driven declines.
Gold prices fell nearly 2% after US military strikes in the Persian Gulf, reinforcing an inverse link with oil. Higher energy costs stoked inflation and interest rate fears, reducing demand for non-yielding metals like gold and silver.
Silver mirrored gold’s decline, with the gold-to-silver ratio steady between 60 and 65 since late January. The metals’ sensitivity to geopolitical risks and oil price movements has driven recent volatility.
Analysts expect de-escalation in the Iran conflict to support a rebound, projecting gold and silver prices to rise by year-end as rate concerns ease.