Gold, Silver Rebound in Asia on Bargain Buying After Turbulent Week

Gold and silver prices reversed earlier losses to edge higher in Asian trading on Friday, as bargain hunters stepped in following a week marked by sharp volatility and heavy selloffs across precious metals.

Despite the rebound, silver remained the clear underperformer and was on track to post a steep weekly loss of around 14%, having largely erased a short-lived recovery earlier in the week. Gold fared relatively better, though prices were still trading roughly $800 an ounce below last week’s record highs.

Some easing in safe-haven demand weighed on the broader metals complex, as cooling tensions between the United States and Iran reduced geopolitical anxiety. The two countries are set to hold talks in Oman later on Friday, tempering demand for defensive assets such as gold and silver.

Gold steadies after retreat from record levels

Spot gold slipped 0.9% to $4,825.31 per ounce by 22:56 ET (03:56 GMT), while April gold futures fell 1% to $4,842.44 per ounce. On a weekly basis, spot gold was down about 0.9%, after failing to sustain levels above $5,000 per ounce earlier in the week.

Still, the yellow metal managed to hold well above a near one-month low touched earlier in the week, suggesting that dip-buying interest remains intact despite the recent correction.

Silver faces deep weekly losses as recovery fades

Silver prices showed more mixed performance. Spot silver rose 2.8% to $72.97 per ounce, while silver futures declined 5.1% to $72.76. The white metal had plunged as much as 16% on Thursday before clawing back some losses into the close.

Even so, silver was still down around 14% for the week, following an almost 18% collapse from record highs reached last week, underscoring persistent fragility in sentiment.

Broader metals remain under pressure

Other precious metals also struggled to regain footing. Spot platinum fell 1.8% to $1,953.17 per ounce and was down nearly 10% for the week, extending losses after a sharp slide of almost 22% last week.

The broader rout in metal markets began after U.S. President Donald Trump nominated Kevin Warsh as the next Federal Reserve chairman. Warsh is widely seen as less dovish than markets had anticipated, prompting a sharp rebound in the U.S. dollar. The stronger greenback has weighed heavily on dollar-denominated commodities, with the dollar index heading for its strongest weekly gain since early October, despite softer recent labor market data.

Overall, while bargain buying has helped stabilize prices, confidence across precious metals remains fragile amid dollar strength, shifting Fed expectations, and easing geopolitical risk.