Silver, on the other hand, UBS said, is likely to remain volatile going ahead in the backdrop of the sharp run seen in the last few months and the ensuing correction seen in the white metal recently.
Goldman Sachs said on Wednesday that it saw significant upside risk to its $5,400 year-end forecast for gold on central banks maintaining their recent pace of accumulation
At current levels, MCX Gold prices have retraced up to 38.2 per cent, and Silver up to 50 per cent, highlights Aamir Makda Commodity & Currency Analyst of Choice Broking.
In the global market, spot gold and silver prices were lower by 6 per cent and 11.8 per cent, respectively. From their record highs, gold and silver are down 13.5 per cent and 32 per cent
The dollar clung onto its gains as investors weighed what a US Federal Reserve under Warsh might look like, with his preference for a smaller balance sheet
Shares of gold-loan financers' wilted under selling pressure in Sunday's Budget day special trading session as Gold, Silver prices retreated sharply from record high levels.
Silver futures, which touched a peak of ₹4.2 lakh a kg on Thursday, fell 30% to ₹2.92 lakh in a day. Gold also weakened by 17.53%, but silver lost more. Are we seeing a 1980s redux?
Despite the sharp run, analysts expect silver prices to continue their upward march amid intermittent corrections, which they feel will be bought into by investors.
Sensex Today | Stock Market Highlights: Among the broader baskets, the Nifty Midcap 100 and Nifty Smallcap 100 indices ended higher by 0.18 per cent and 0.20 per cent, respectively
Best way to invest in Gold, Silver: Analysts said investors could invest in gold and silver in a staggered manner, such as via ETFs, to manage volatility and risks
