Gold and silver prices have recently surged, with gold rising 1% to $4,759.63 per ounce and silver increasing 1.9% to $78.15 per ounce. This upward trend follows a ceasefire extension between the United States and Iran, which has reduced geopolitical tensions and led to lower oil prices. Analysts note that lower oil prices ease inflation pressures, which typically supports demand for gold, often viewed as an inflation hedge. However, the market remains sensitive to geopolitical developments and central bank policies, particularly regarding interest rates. Analysts from Standard Chartered caution that while the recent price increase appears fragile, they expect a potential recovery in precious metals, with gold possibly retesting record highs in the future. Investors are advised to keep an eye on the Middle East ceasefire, oil price fluctuations, and interest rate policies, as these factors will significantly influence market dynamics.