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Gold and Silver Recover After Historic Sell-Off as Analysts Maintain Bullish Stance

Gold and Silver Recover After Historic Sell-Off as Analysts Maintain Bullish Stance

Author:

Global Cryptocurrency

Published:

2026-02-02 22:07:01

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BTCCSquare news:

Precious metals markets reeled from their worst single-day decline since 1980 last Friday, triggered by political uncertainty surrounding the Federal Reserve nomination. Yet Wall Street's conviction remains unshaken—JPMorgan lifted its gold price target to $6,300/oz while Deutsche Bank reaffirmed its $6,000 forecast, signaling institutional faith in the metals' structural demand drivers.

The sell-off proved short-lived as spot gold rebounded to $4,700 by Monday afternoon. Deutsche Bank's Michael Hsueh dismissed the volatility as tactical positioning rather than fundamental weakness, noting gold's enduring role as an inflation hedge during market turbulence—a narrative that fueled last year's rally.

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