The head of commodity research at Citigroup stated that gold and silver have rebounded and there is still greater room for growth.

According to Max Layton, head of commodity research at Citibank, the current global market has created the most favorable growth environment for gold and silver in a decade.

He pointed out that when the markets in the United States and Europe are weak and Asian powers seem to be about to strengthen, it is often the best time for a bull market in gold and silver.

At present, the Western economy is slowing down, and the economic stimulus measures of major Asian countries may drive growth, laying the foundation for the strength of precious metals.

I am optimistic about the trends of gold and silver in the coming months, "Layton said in a recent interview with CNBC. He explained that the best bull markets for gold and silver in the past 20 years have occurred when developed markets have weakened or weakened, and when Asian powers have relaxed and may strengthen.

This is undoubtedly the best market for gold and silver in 10 years, "he added.

Layton's remarks come as gold and silver prices are rebounding, with gold rising 2.4% last month to $2749.10 and silver rising 6.5% to $34.01.

Last week, after Israel killed Hamas leader Yahya Sinwar and concerns escalated over further tensions with Iran, gold prices climbed to a historic high, surpassing $2700 for the first time.

Due to geopolitical factors, constantly changing economic patterns, and ongoing inflation concerns, investors have flocked to gold this year, raising concerns about the volatility of other assets.

Bank of America said in a report last week that even the risk of US treasury bond bonds is rising with the rising level of US debt, which makes gold the last safe haven.

Layton said that this rebound is particularly impressive considering factors such as high interest rates, increased employment, and weak imports from major Asian countries, which are usually bearish signs for metals.

To be frank, although many factors are unfavorable for gold and silver, they are still rising. In the past few months, variables closely related to gold and silver have been unfavorable for them, "he added," but they have been rising

Layton is one of the many analysts who are bullish on metals. Bank of America strategists predict that by the end of next year, gold prices will reach $3000, meaning an increase of over 8%.

Strategists stated in a report last week that "gold seems to be the last 'safe haven' asset, incentivizing traders including central banks to increase their exposure.