silverrate

Gold and silver prices have successfully rebounded on February 3, 2026, recovering more than 2% following a historic "wipeout" earlier in the week. Spot gold rose to $4,767.33 per ounce, recovering from a near one-month low, while spot silver climbed to $81.61.
Market Rebound Overview (Feb 3, 2026)
The recovery follows a brutal selloff where gold plunged nearly 10% and silver collapsed roughly 30% in a single day (the steepest declines in decades).
Gold (Spot): Last trading at $4,771.76, up over 2% from Monday's lows.
Silver (Spot): Advanced as much as 7.8% intraday, settling around $81.30–$81.61.
Pakistan Local Markets: Gold witnessed a massive single-day drop of Rs 21,500 per tola to settle at Rs 490,362 before the international recovery began to influence local sentiment.
Key Drivers of the Rebound
Bargain Hunting: Investors viewed the "historic wipeout" as a positioning reset rather than a structural downturn, leading to aggressive buying at the support levels of $4,400 for gold.
US Government Shutdown: The partial federal government shutdown led to the cancellation of the closely watched January employment report, increasing macro uncertainty that typically favors safe-haven metals.
Fed Chair Nomination: The nomination of Kevin Warsh as the next Federal Reserve Chair initially boosted the dollar (causing the crash), but markets have since stabilized as investors reassess his potential "hawkish" impact on inflation and interest rates.
Margin Requirements: CME Group raised margin requirements on precious metal futures after Monday's close, which initially forced liquidations but eventually helped stabilize the volatility.
Future Outlook
Analysts at J.P. Morgan and Bank of America maintain a bullish long-term outlook for 2026, with price targets for gold remaining between $5,000 and $6,000 per ounce by year-end, citing continued central bank diversification and geopolitical risks. Silver is expected to be more volatile but could target $100 if it sustains levels above $85.
#goldprice #SilverRate #MarketRebound #commodities #GoldSilverRebound