Gold experienced a sharp sell-off in early February, briefly dipping toward $4,400 before mounting a strong recovery to climb back above $4,950 by February 6th.
The correction followed an explosive rally that had lifted prices toward a record peak near $5,600 in late January, underscoring how overheated momentum triggered a wave of rapid profit-taking.
Silver’s moves were even more volatile, plummeting toward $64 during the sell-off before rebounding sharply—though it remains well below its recent high around $121.
Despite the price swings, physical market conditions appear tight. London silver lease rates have surged to around 6.3%, reflecting strong underlying demand and potential supply constraints. Market perspectives remain divided: some analysts anticipate consolidation in the safe-haven trade, while others continue to project gold trending toward an average of $6,000 through 2026.