Gold is staging a dramatic comeback and is on course for its biggest one-day gain since the financial crisis.
Spot gold is up 6.19% so far today at $4,940.79 an ounce, as traders rush back in after the heavy losses of the past two sessions. If sustained, this would mark gold’s strongest single-day advance since 2008.
Silver is rebounding even more sharply, up 12.02% at $86.27 in early trading. The strength of the bounce suggests that even the violent weekend sell-off has failed to undermine investor appetite for precious metals, with many viewing the pullback as a reset rather than a trend reversal.
Market participants argue that the fundamental drivers behind the rally — including geopolitical uncertainty, questions around monetary policy and demand for hard assets — remain firmly in place, helping to fuel the sharp snap-back across the metals complex.
If you liked gold at $5,500, it’s not hard to see why $4,400 suddenly looks attractive — especially for long-term bulls who now have a chance to average down meaningfully rather than chase momentum.
Crucially, the long-term fundamentals haven’t disappeared. Central bank buying, geopolitical uncertainty, elevated government debt and questions around monetary credibility all remain in place. The recent volatility may have shaken out leverage and excess positioning, but it hasn’t invalidated the broader case for holding gold over the long run.
