According to market analysis from Investing.com India, metals are currently entering a correction phase after a powerful parabolic blow-off rally that exceeded initial targets. The analysis notes that silver topped around $123 and saw a rapid correction of almost 50%, with the correction structure typically taking shape as a 3-wave pattern. As reported by Investing.com India, gold, silver, and mining stock ETF GDX are setting up to drop to lower lows in this correction, which should complete the segment that began in January 2026. This correction was even more powerful than initially expected, as the blow-off rally exceeded ideal targets, with the initial decline into early February only representing the first leg of the expected 3-wave correction.
Juerg Kiener, Managing Director and CIO of Swiss Asia Capital (Singapore), expects both precious metals to hit fresh highs despite recent corrections. According to CNBC TV18, he believes the recent sell-off should be viewed as a buying opportunity rather than a warning sign. Kiener noted that inventories of precious metals remain extremely low, particularly in silver, where supply constraints continue to persist. He pointed to the large gap between prices in Asian markets and those in the West as evidence that physical supply remains tight, stating "We have weakness, we have oversold markets, and we have a tight market." While investors have recently focused on interest rate expectations, Kiener believes inflation could soon return to the dominant market theme, with potential upside surprises strengthening demand for non-yielding assets like gold and silver.
According to CanadianMiningReport.com analysis, gold has corrected sharply from January record highs near $5,589/oz to trade around $4,100–$4,173/oz, yet retains strong structural support from central banks and diversification trends. Major institutions maintain constructive outlooks, with JPMorgan targeting $6,000/oz by Q4 2026 and up to $6,300/oz in 2027, while Goldman Sachs sees $4,900 by year-end with upside potential. Consensus forecasts cluster in the $4,900–$6,300 range, implying 20–50%+ upside from current levels. Kiener expects governments and central banks around the world to continue supporting economies facing weak growth, creating another potential tailwind for precious metals. Silver, after an even more explosive rally (briefly exceeding $100–$120/oz), sits near $61–$65/oz with powerful dual drivers of industrial growth and monetary appeal.
According to Swiss Asia Capital's analysis, mining stocks have corrected sharply despite generating strong cash flow, creating attractive opportunities for investors willing to look beyond short-term volatility. The analysis suggests that mining stocks present the strongest probability for profitability compared to gold and silver at this time. As reported by Elliottwave Trader, their MMA (Metals, Mining and Agriculture) analyst team has identified these 41 individual mining stocks as presenting the best opportunities based on chart analysis, with the structure suggesting they rally to new all-time highs. Kiener remains constructive on industrial metals such as copper, aluminium and zinc as well, citing ongoing supply-demand imbalances and low inventories. While prices may remain volatile in the near term, he does not expect deep corrections, with the bullish view extending beyond bullion into the broader metals complex.
