Spot gold returns strongly to the $5000 precious metal market, experiencing significant fluctuations once again

Release time：2026-02-10 Publisher：GINZO

Spot Gold Breaches USD 5,000 Again… Strong Rebound in Precious Metals Market, What’s the Long-Term Outlook?

【Seoul=Special Correspondent】 Recently, the international precious metals market has shown signs of a strong rebound amid sharp fluctuations, attracting intense attention from the investor community. On February 9 (Beijing Time), after experiencing significant volatility last week, spot gold once again breached the psychological threshold of USD 5,000 per ounce, and spot silver also reached the USD 80 per ounce range, with both metals showing a sharp upward trend. As a result, discussions on whether the precious metals market has officially entered an upward phase have become increasingly heated.

Gold and Silver Rise Together, Both Domestic and International Markets Remain Strong

According to international financial market data, as of 9:00 AM (Beijing Time) on February 9, the price of spot gold was recorded at USD 5,041 per ounce, with a daily increase of more than 1.5%. This is interpreted as spot gold regaining strong upward momentum after experiencing sharp fluctuations around the USD 5,000 mark last week.

Spot silver also continued its upward momentum, recording a price of USD 80 per ounce on the same day with a sharp increase of 2.9%. In the international futures market, COMEX silver futures rose by more than 4% to trade at USD 80.13 per ounce, indicating that the strength of the silver market is continuing to grow.

The domestic market also responded warmly to precious metals-related products. The main Shanghai Silver contract on the Shanghai Futures Exchange rose by more than 8% on the same day, and hit a maximum price of RMB 20,813 per kilogram in the middle of the session with an increase of up to 9%. This is analyzed as a response to the strength of the international market, as well as an increase in the purchasing power of domestic investors for precious metals.

In addition, this rebound is the second strong rebound shown by the precious metals market recently. On February 5, spot gold also rose by more than 1% in the middle of the session and temporarily breached the USD 5,000 per ounce mark, confirming that the precious metals market is now forming an upward trend accompanied by high volatility.

Institutional Analysis: Short-Term Fluctuations Are Inevitable, but the Long-Term Uptrend Remains Strong

Regarding the sharp market fluctuations, domestic and international professional institutions have put forward a consistent perspective on the future outlook. Most institutions expect that while market adjustments may be inevitable in the short term, the upward trend of precious metals will continue in the medium to long term.

Zhengxin Futures stated in a research report, "Against the backdrop of ongoing global economic uncertainty and geopolitical risks, demand for precious metals as safe-haven assets is expected to remain strong." It added, "In the short term, the market may adjust due to profit-taking sales, but in the medium to long term, positive factors such as the imbalance in the supply and demand structure of precious metals, continuous gold purchases by central banks, and increasing ETF investments will take effect, so the long-term upward trend will be maintained."

China Galaxy Securities put forward a more specific outlook. The institution analyzed, "Metal assets are likely to go through a period of adjustment and consolidation this week ahead of the release of the U.S. January CPI data." It further stated, "The U.S. CPI data is a key indicator for judging inflation stickiness and predicting the direction of the Federal Reserve’s monetary policy, and thus market expectations may be adjusted." In addition, it emphasized, "In the medium to long term, the logic behind the rise in the precious metals market remains strong, especially gold, which is expected to enhance its value as an asset to hedge against long-term credit risks of the U.S. dollar."

Chong Mengyun, an analyst at Shenyin & Wanguo Futures, said, "In a situation where precious metals are rising rapidly and volatility is increasing in the short term, the exit of leveraged funds may amplify market fluctuations." However, she added, "In the long term, the fundamental factors supporting gold’s rise—geopolitical instability and inflationary pressures—have not been resolved, so the upward trend is expected to continue."

Shift in Investment Logic: From Short-Term Trading to Focus on Long-Term Value

Currently, the investment logic in the precious metals market is gradually changing. China Galaxy Securities analyzed, "In the past, trading based on short-term interest rate fluctuations dominated, but recently, with growing concerns about long-term credit risks of the U.S. dollar and the restructuring of the global monetary system, the investment perspective on the long-term value of precious metals has been strengthened."

As a result, suggestions have emerged that investors should formulate investment strategies based on long-term market logic rather than overreacting to short-term price fluctuations. Especially in the case of silver, due to its relatively small market size, it is sensitive to fund manipulation, so investors should be cautious of the risk of price fluctuations caused by leveraged funds.

Various institutions have warned, "Compared with industrial metals, the silver market is smaller and more volatile, so ordinary investors should strictly implement position management." On the contrary, industrial metals are expected to see long-term demand growth driven by the global green transition trend, making them a clearer outlook for investment.

For Ordinary Investors: Advice to Watch Cautiously and Enter at the Right Time

In the current market situation, as investment advice for ordinary investors, analysts suggest, "It is advisable to maintain a wait-and-see stance for the time being." They further said, "Entering the market after it has fully adjusted and formed a stable upward momentum is a safer way to reduce risks compared to blindly following the trend."

In addition, they emphasized, "Investment in gold should be approached from a long-term perspective, while for silver investment, excessive use of leverage should be avoided and an appropriate position should be maintained." This is regarded as a necessary measure to avoid losses caused by sudden price fluctuations.

【Conclusion】 In a situation of high economic uncertainty, the precious metals market is strengthening its value as a traditional safe-haven asset, and the re-breach of USD 5,000 by spot gold is regarded as a positive signal for the market. While short-term market fluctuations are inevitable, in the medium to long term, positive factors such as geopolitical instability, inflationary pressures, and continuous gold purchases by central banks are expected to persist, so the upward trend of the precious metals market is expected to continue. Attention to the U.S. CPI data and changes in the geopolitical situation in the future is expected to increase further.