Gold prices made a strong comeback, crossing the ₹80,000 mark per 10 grams in domestic markets. This surge marks a significant milestone, driven by robust global cues and increased investor interest in the precious metal.
Silver Extends Rally to Third Day
Silver continued its upward trajectory for the third consecutive day, achieving a one-month high during intraday trading. The metal gained momentum due to heightened industrial demand and optimism in the global market.
Key Market Drivers
- Global Economic Trends: Concerns over inflation and interest rate policies have bolstered safe-haven assets like gold and silver.
- Weakening Dollar: A dip in the dollar index supported gains in precious metals, making them more attractive to investors.
- Investor Sentiment: With uncertainties in equity markets, many investors are turning to gold and silver for portfolio diversification.
Future Outlook for Precious Metals
Analysts suggest that the bullish trend in precious metals could continue, with gold expected to test higher resistance levels. Silver, on the other hand, is likely to maintain its rally with sustained industrial and investment demand.
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