Gold and silver prices ticked higher on Wednesday after getting rebuffed price forecasts from Wall Street experts. Analysts project that further gains will likely be determined by the direction of foreign exchange and interest rate expectations.

Silver rose over 4% on Wednesday, while Gold climbed just shy of 1%. The precious metals market was hit hard in the past week due to poor market conditions and a new Fed Chair being nominated. However, that trend has been reversed.

Gold and Silver prices’ rebound today reflects renewed dip buying after one of the sharpest corrections in precious metals in years, as broader markets stabilized and the US dollar softened,” Ewa Manthey, commodities strategist at ING, told CNBC this week. Furthermore, the partial US federal government shutdown ended Tuesday after Donald Trump signed a funding deal he negotiated with Senate Democrats. Gold and Silver investors responded positively to the announcement, with that trend continuing into Wednesday.

Gold rates are currently stable at $4800, having risen significantly from their earlier crash threshold of $4500. The safe haven migration continues to be a big topic among investors across the board, as gold,theirgold, being the ultimate hedge against inflation phethe inflationnomenon the inflationphenomenon, gains momentum among the masses. Per Katusa Research, every major asset explores a phenomenon,experiencesnotable correction, the one that sets its tone for the years to come. The portal outlined a significant example of gold’s violent crash in 1974, after which it surged 734% to its current price of $4800.