Global gold prices demonstrated a confident recovery during Wednesday's trading, successfully rebounding from the previously recorded weekly lows. The main driver of the rise is market participants' preparations for the publication of the minutes of the US Federal Reserve's January meeting, which could contain important signals regarding further interest rate changes. Amid a local decline in prices below the psychological mark of $4,900, speculative buying intensified, allowing the precious metal to regain lost ground.

The current rise follows brief pressure, when the price per ounce fell to $4,841 due to a temporary strengthening of the dollar and signs of de-escalation in the Middle East. In particular, news of progress in the US-Iran nuclear talks in Geneva reduced investors' need for safe-haven assets, but this effect proved short-lived. Traders' attention has now shifted to the domestic economic agenda in the US, including the upcoming release of the Personal Consumer Expenditure (PCE) index, a key inflation indicator for the regulator.

Federal Reserve rhetoric remains moderately soft, providing indirect support for gold: Chicago Fed President Austan Goolsbee has suggested the possibility of several rounds of rate cuts in 2026, provided inflation stabilizes. However, analysts warn that without further geopolitical upheavals, a repeat of last year's rapid rally is unlikely. Expert forecasts, including those from Natixis, point to consolidation of the average price around $4,850 per ounce throughout the current year.

Along with gold, the entire precious metals sector is showing significant growth, reflecting the overall influx of liquidity into commodity assets. Silver led the way, gaining more than 3%, while palladium and platinum are also showing positive momentum. This synchronized activity underscores that investors are seeking to diversify their portfolios ahead of a possible shift in US monetary conditions, maintaining cautious optimism for platinum group metals.