# Spot gold held near a one-week high at around $4,688 an ounce after climbing nearly 3% on Wednesday.

*fintech · news · 2026-05-07 · CNBC TV18*

## Key points

- Analysts expect gold and silver to reach new record highs, potentially later this year.
- Despite a short-term correction, central banks are expected to continue diversifying into gold.
- Silver's supply remains tight while demand from green technologies and AI grows significantly.
- Gold imports in India have fallen to multi-year lows, causing emerging supply tightness and local premiums.
- Precious metals showed unusual recent correlation with equities, both negatively affected by interest rate fears.

**Companies:** BNP Paribas Fortis, Indosuez Wealth Management, Metals Focus, Metals Daily, Solomon Global
**Countries:** United States, Iran, India

[Read the full story on CNBC TV18](https://www.cnbctv18.com/market/commodities/as-us-iran-war-fears-ease-gold-and-silver-bulls-see-fresh-record-highs-ahead-ws-el-19901334.htm)

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