$XAU Gold saw a violent shakeout in early February, briefly sliding toward the $4,400 region before staging a powerful bounce and reclaiming ground above $4,950 by Feb 6.
The pullback came shortly after an explosive rally that pushed prices close to a record $5,600 peak in late January, highlighting how overheated momentum gave way to rapid profit-taking.
Silver has been even more dramatic, plunging near $64 during the sell-off before rebounding sharply, though it still trades far below its recent $121 high.
Despite price turbulence, physical demand remains firmly reflected in London silver lease rates surging to around 6.3%, signaling tight supply conditions. Market outlooks remain mixed: some analysts see consolidation in the safe-haven trade, while others maintain projections for gold to trend toward a $6,000 average through 2026.
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