Key Market Drivers
Geopolitical Conflict: Defensive buying has accelerated due to "preventive" missile strikes by Israel and the U.S. against Iran, triggering retaliatory threats and fears of disruption in the Strait of Hormuz.
Economic Indicators: Investors are awaiting the ISM Manufacturing PMI data due today, March 2, which may influence U.S. Dollar strength and interest rate expectations.
Central Bank Activity: Aggressive central bank buying continues to provide a "market floor" for gold, while silver is being bolstered by industrial demand from AI infrastructure and solar energy.
Future Outlook: Some analysts forecast gold could reach $6,000 and silver $125–$150 later in 2026 if current supply deficits and geopolitical risks persist.
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