On February 3, the prices of gold and silver rose significantly, recovering after a previous drop, and the shares of mining companies reacted positively.

On February 3, the prices of gold and silver recorded a significant rebound after massive sales in the previous week. Spot gold rose by 5.6%, reaching $4,930.97 per ounce, while futures contracts increased by 6.4%. Silver saw an increase of over 6%, reaching $84.29 per ounce. This development follows a nearly 10% drop in gold and a dramatic 30% decline in silver, the most severe since 1980.

Mining company stocks reacted positively, with notable increases for Rio Tinto, Anglo American, and Fresnillo. In the U.S., silver-related ETFs experienced spectacular gains, and mining company stocks rose significantly. Investors are reassessing whether the previous decline was an exaggerated reaction or a turning point. Deutsche Bank and Barclays maintain an optimistic outlook on gold, citing geopolitical uncertainty and monetary policies as supporting factors.

Regarding silver, its volatility is influenced by its dual status as a precious and industrial metal, and global demand is expected to grow significantly in the coming years, especially from the solar sector. Analyst Zavier Wong emphasizes that industrial demand for silver is real and increasing, suggesting a continued interest in this precious metal.