On Thursday, the prices of bullion, considered a “safe haven” for investors, increased significantly. In the case of gold, this is an increase of 1.2%. to just over $4,750. per ounce, while silver – by 3%. to approx. $79.6 per ounce. As CNBC reminds, in 2025 both precious metals recorded record increasesgaining 66% respectively. and 135 percent throughout the year. However, since the outbreak of the conflict between the US and Iran, gold and silver have come under pressure, which has shaken prices.
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Expert: the bull market in gold and silver will resume
At the time of the turmoil, metals began to be sold off, and their prices dropped due to, among others, the possibility of an increase in US interest rates by the Fed and a strengthening of the US dollar due to a sharp increase in oil prices.
Now the bad times for the “safe haven” may end – provided that the US and Iran reach the planned agreement. Although experts do not want to make predictions, saying that it is difficult during the war, Thursday's increase clearly indicates this.
Philippe Gijsels, chief strategy officer at BNP Paribas Fortis, told CNBC that gold and silver have further upside potential even though precious metals markets remain highly volatile.. He pointed out that precious metal prices are currently recovering along with stocks. “We expect the long-term bull market for gold and silver to resume and prices for these metals to reach new record highs in the near future, perhaps later this year,” he told CNBC.
The expert added that “central banks and governments will continue to diversify their portfolios, moving away from US securities towards gold” and “when the fog of war clears, investors will return to the gold and silver markets.” In his opinion, the decline in gold and silver prices in recent months “did not mean the end, but only a temporary pause in what will turn out to be the strongest and longest bull market in gold and silver in history.”
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Paul Williams, managing director of gold and silver supplier Solomon Global, wrote in an email to CNBC on Thursday that it is difficult to make forecasts while the war is still ongoing. However, he admitted that “if a peace agreement is signed, silver will likely benefit from improved economic sentiment, greater industrial demand and greater investor risk appetite. If negotiations fail, gold will likely lead the initial move towards safe haven assets.”
