Gold and silver prices have seen significant volatility in recent weeks after rising prices over the past two years.

The spot price of gold is up 67% over the past year, while the spot price of silver is up 158% over that time, although asset prices fell over the past week with gold up over 9% and silver over 27% over that period. Falling prices also affected gold barwhich fell more than 9.8% on January 30, which was its biggest one-day drop since 1983.

Spot gold prices were below $4,700 an ounce during Monday morning trading, while silver was below $79. At these prices, gold is up roughly 66% over the past year, while silver is up 147%.

The rise in gold and silver values ​​over the past year has attracted the attention of consumers, some of whom are looking to sell gold and silver jewelry amid recent volatility, while others are looking to invest in precious commodities.

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Gold prices have risen over the past year and experienced significant volatility in the past week. (CFOTO/Future Publishing via Getty Images)

Mukarram Mawjood, founder of Bullionite Asset Group, told FOX Business that the jeweler “brings a retail premium does not directly correlate with movements in investment grade gold and silver,” so jewelry should not be approached as an investment when purchased.

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The rise in gold and silver values ​​over the past year has caught the attention of consumers. (Mike Segar/Reuters)

JPMorgan said in a research note on Monday that it expects gold prices to reach $6,300 an ounce by the end of 2026 amid demand for central banks and investors.

“Even with the recent short-term volatility, we remain firmly bullish on gold over the medium term due to a clean, structural and ongoing diversification trend that is set to continue amid a still well-entrenched regime of outperformance in real assets versus paper assets,” the firm said in a note.

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The spot price of gold is up 67% over the past year, while the spot price of silver is up 158% over that time. (Photo: Chris Ratcliffe/Bloomberg via Getty Images)

Deutsche Bank reiterated its gold on Monday price forecast of $6,000 an ounce this year amid sustained investor demand.

Last week, UBS also raised its gold price forecast to $6,200 for March, June and September 2026.

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Reuters contributed to this report.