Gold, Silver Prices Rise, "Unusual" Oil Trades Face Scrutiny

Gold and silver extended their 2026 rally this week, with the gold price first breaking above US$4,600/oz and then pushing through US$4,700/oz as US-Iran tensions eased and broader risk sentiment shifted. Silver also surged, briefly trading above US$82/oz, underscoring that the move is not limited to gold alone but is spilling into the broader precious metals complex. The video says experts are split on whether the move has further to run, but the immediate catalyst remains the market’s reassessment of geopolitical risk after tensions between the US and Iran cooled. With gold already at fresh highs and silver at elevated levels, the desk takeaway is that momentum remains firmly positive, though the interview suggests the next leg higher will need a new trigger rather than just follow-through from this week’s easing in the Middle East. Near term, traders will be watching for either renewed geopolitical stress or a fresh macro catalyst to justify further upside. If those fail to materialize, the risk is consolidation after an outsized move; if they do, the breakout above US$4,700/oz in gold and US$82/oz in silver could extend further as technical buying and momentum flows remain in control.