The metal may extend its recovery further to $5,000 in short term on ceasefire hopes. However, for a sustainable rally, it needs to reestablish its safe haven credentials.
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
Gold April futures on the MCX traded higher by 3.78 per cent at ₹1,44,370 per 10 gm, while silver May futures gained 5.54 per cent to ₹2,36,338 per kg
Broader market sentiment was also fragile on Monday as the war in West Asia entered its fourth week with no clear resolution in sight
Precious metal prices are likely to consolidate with a mild recovery bias next week after a sharp correction, though the upside may remain capped amid elevated interest rates and a firm US dollar, analysts said. Investors will track key macroeconomic data, including provisional manufacturing and services PMI readings from the US, UK and Japan, along with consumer sentiment and jobless claims for direction. Traders will also closely monitor oil price movement for further cues, they added. "In the week ahead, gold price may see some consolidation and slight recovery before prices make their next move either side," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. In the domestic market, precious metal prices witnessed steep losses last week. On the Multi Commodity Exchange, silver tumbled by Rs 32,663, or 12.59 per cent, to settle at Rs 2.26 lakh per kilogram, while gold dropped by Rs 13,974, or 8.82 per cent, to close at Rs 1.44 lakh
The West Asia conflict has changed the bullish narrative around Gold. High oil prices, US recession-cum-inflationary fears, and fading Fed rate cut bets weigh on the sentiment, says YES Securities.
Gold and silver prices are expected to see more corrective moves for the coming week as investors closely track geopolitical developments in West Asia and key central bank meetings that could affect the trajectory of the global monetary policy, analysts said. Traders will remain focused on the evolving conflict in West Asia as any signs of escalation or de-escalation could trigger sharp swings across financial markets, they added. "In the week ahead, focus will remain in the Middle East region as any signs of further escalation or de-escalation may led to increased volatility in the financial markets," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. On the macroeconomic front, investors will monitor a raft of key central bank meetings scheduled during the week. The US Federal Reserve will announce its policy decision on Wednesday, followed by the European Central Bank and the Bank of England on Thursday and the People's Bank of ...
At 9:23 AM, DSP Silver ETF climbed 0.32 per cent, UTI Silver ETF gained 0.27 per cent, and Groww Silver ETF rose 0.16 per cent
Commodity rout: Precious metals - Gold, Silver, Platinum have cracked up to 47.5%; base metals - aluminium, copper, zinc, lead and nickel - plunged up to 18% in global markets from January 29 highs.
The white metal recorded its biggest ever intraday decline in the previous session
Bandhan Silver ETF plummeted 19 per cent during Sunday's special trading session on account of the Union Budget presentation
Gold and silver ETFs extended their decline amid a sharp global sell-off in precious metals, prompting BSE to revise price band calculations to T-1 NAV to better reflect heightened market volatility
Calling this record crash in gold and silver prices a "rare" event, Zerodha founder and CEO Nithin Kamath said these are the days when risk management doesn't work
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?
The precious metal refining sector expects the government to address duty disparities that put domestic refiners at a disadvantage compared to imports through free trade agreements, MMTC-PAMP Managing Director and CEO Sami Guha said on Friday. "One of the expectations we've had as not just MMTC-PAMP, but as the whole precious metal refining sector has seen this disparity, which is there in duty, especially through the SEPA route between what we get as Dore versus what refined bullion is imported at," Guha said. The duty gap puts refiners at a significant disadvantage, though the government appears to be aware of the issue, he said. FTAs signed after the Single Euro Payments Area (SEPA) have excluded bullion, and the industry hopes future trade agreements follow the same approach by not including gold and silver in lower duty structures. To boost India's global standing in refining and increase the number of London Bullion Market Association-accredited refiners, the government needs
Gold and silver prices are poised to maintain their record-setting rally in the coming week as investors focus on global inflation data and key macroeconomic indicators that shape central bank policy paths, analysts said. The spotlight will be on macroeconomic numbers, including inflation readings from India, the US, Europe, and the UK, as well as provisional manufacturing and services PMI data across major economies. In the US, traders will also track non-farm payroll/ weekly jobless claims, housing data and consumer sentiments, which will also shape the direction of bullion prices, they added. "Gold and silver's momentum will remain positive as (traders) focus on key data from China, followed by inflation numbers from India, the US, and the UK, along with provisional manufacturing/ services PMI data from across regions," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services, said. On the Multi Commodity Exchange (MCX), gold futures appreciated Rs
In an email interview, Yogesh Kalwani says he prefers a mix of largecaps and select mid- and smallcap names, with sector tilts towards BFSI and healthcare
The desk will mainly target Indian jewellers and extend services to scrap and recycling businesses, Greg Kallinikos, chief executive for Asia Pacific, said in an interview
Apurva Sheth, head of market perspectives and research at SAMCO Securities believes that the recent buying frenzy in both gold and silver has been led by FOMO - buying out of fear of missing out