Gold prices witnessed a marginal decline of Rs 100, settling at Rs 78,600 per 10 grams in the domestic market on Tuesday. In contrast, silver prices surged by Rs 500, reaching Rs 93,000 per kilogram, driven by strong demand and global market trends.
Source:- bbc news
The dip in gold prices is attributed to muted local demand and a slight correction in international markets. On the global front, gold hovered around $1,980 per ounce as investors awaited fresh cues from economic data and monetary policy developments. Strengthening of the US dollar and a rise in bond yields also contributed to the decline in gold prices, making the yellow metal less attractive for buyers.
Source:- news 18
Meanwhile, silver prices showed a sharp upward trend due to robust industrial demand and a rebound in global silver rates, which rose to $24.30 per ounce. Market analysts suggest that silver’s performance is linked to expectations of a recovery in manufacturing and renewable energy sectors, where the metal plays a crucial role.
The divergence in gold and silver prices reflects differing market dynamics. While gold continues to act as a hedge against inflation and economic uncertainty, silver is benefiting from its dual role as a precious and industrial metal.
Experts advise investors to remain cautious, as fluctuations in the US Federal Reserve’s interest rate outlook and geopolitical developments could further influence precious metal prices in the coming days. For those looking to invest, current levels may offer an opportunity in silver, while gold buyers are advised to wait for a clearer trend.
Share your views in the comments
