In the international market, spot gold was up 2.5 per cent at $4,819.25 per ounce. Similarly, spot silver also jumped 5.5 per cent to $76.91 per ounce
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Commodity research analyst Nirpendra Yadav at Bonanza believes that the pullback in Gold and Silver prices is due to weak buying momentum, hence they may struggle to extend gains.
According to data shared by Axis Securities, gold prices have declined more than 10 per cent, while silver prices have corrected by over 22 per cent since the war.
With the geopolitical premium fading, analysts believe the next trend will hinge on three factors: the US dollar and bond yields, geopolitical developments, and demand dynamics
