Bloomberg analysts warn that gold and silver may have peaked, and the "once-in-a-generation" high may have passed.

In his April metals market outlook report, Bloomberg Intelligence senior market analyst Mike McGlone stated that gold is facing a tough hurdle, created by excessive speculation at the beginning of the year, with the January peak potentially representing a once-in-a-generation historical high. He noted that gold is still struggling as speculative momentum has transformed the yellow metal from a safe-haven asset into a risk asset. He pointed out that the precious metal's 180-day volatility is more than double that of the S&P 500 and is at its highest quarterly level since 2006. Like gold, silver's surge to $120 per ounce in January may also represent a historic peak. (Kitco)