Gold rebounds, but silver extends losses as oscillating oil prices spark market volatility

Gold prices rebounded slightly on Friday, but silver prices sank further, after both metals suffered heavy selling pressure in the previous session. By 6:17 a.m. ET, spot gold was 0.3% higher at $4,662.51 an ounce, pulling back from larger gains seen earlier in the morning. Gold futures added 1.2% to settle at $4,662.10. Spot gold Spot silver was last seen around 1.7% lower at $71.62 an ounce, as it oscillated between positive and negative territory through the morning. Silver futures were up by around 0.8%. Spot silver Gold and silver are both headed for a losing week, with gold on course for a loss of close to 9% and silver on track to end the week down more than 10%. On Thursday, the metals joined a broad sell-off, with spot prices sliding around 3% after suffering deeper losses earlier in the day amid rising fears about the economic fallout from the Iran war. Volatility in the oil market has been influencing global investor sentiment since the beginning of the U.S. and Israel's war with Iran. On Friday, oil prices continued to fluctuate , and were last seen edging higher after posting declines earlier in the morning. Global equity markets were mixed on Friday, with European stocks struggling to find direction as Asian shares mostly moved lower. U.S. futures data pointed to a negative open on Wall Street, after earlier signaling a rebound from Thursday's losing session. Arthur Parish, a metals and mining equity analyst at SP Angel, told CNBC's "Squawk Box Europe" on Friday that some of the extreme volatility in gold in recent weeks came after an extended rally in the build up to the first U.S.-Israel strikes on Iran. "That's pretty much unwound completely and actually moved quite a lot lower," he said. "A lot of that is momentum trades coming unwound." Gold and silver both enjoyed record-smashing rallies in 2025, surging 66% and 135%, respectively, over the course of the year. However, they have seen much more volatile trade in 2026, with silver futures suffering...