Gold posts back-to-back weekly gains; analysts see near-term volatility but firm long-term

Gold and silver futures experienced fluctuations but achieved weekly gains amid geopolitical tensions involving the U.S. and Iran. Analysts predict short-term volatility due to these tensions, but a supportive long-term outlook is expected from central bank purchases and lower real interest rates. HSBC's James Steel noted that a return to a gold bull market hinges on a cessation of hostilities with Iran and lower oil prices. This week, gold rose 2.4% to $4,761.90/oz, while silver increased 4.9% to $76.324/oz, despite a slight decline on Friday.