The gold and silver outlook faces pressure, but analysts see bullish potential for 2026

Volatility continues to set the pace in precious metals markets. Although gold and silver prices are showing downward pressure today, experts agree that there are solid fundamentals for an upward movement in the coming months.

Short-term pressure factors

Two key events have intensified downward pressures this week. First, the annual rebalancing of the Bloomberg Commodity Index has significantly reduced the weighting assigned to precious metals, leading to automatic sales by passive funds that track this index. This movement typically triggers profit-taking in gold and silver.

Second, CME Group has once again increased margin requirements for futures contracts of these metals. This time, silver experienced a 28.6% increase in margin requirements, marking the third increase in a month. These measures tend to slow down speculative and leveraged trading, temporarily dampening the bullish momentum.

Institutional outlook remains optimistic

Despite these turbulences, Goldman Sachs and other financial institutions maintain a constructive outlook. Although the investment bank recognizes that silver will face greater volatility compared to gold, analysts project that both metals will have room to recover throughout the year.

The combination of short-term technical pressures does not invalidate the long-term macroeconomic factors that have supported demand for these safe-haven assets. Experts warn that investors should differentiate between temporary corrections and fundamental changes in the main trend.