After hitting record highs, gold and silver prices have started correcting. Market experts believe this fall is driven by profit booking. Investors who bought older at lower levels are now locking in gains. Such corrections are worldwide without sharp rallies. The recent surge pushed prices to historic levels. A temporary pause was expected. This ripen reflects normal market behavior.
What Are The Latest MCX Rates?
On the Multi Commodity Exchange, gold fell by Rs 511. It is now trading at Rs 1,33,669 per 10 grams. Silver moreover saw a sharp decline. The metal dropped by Rs 1,277. Silver is currently trading at Rs 1,96,800 per kilogram. These rates mark a well-spoken pullback from recent peaks.
How Upper Did Gold And Silver Reach Earlier?
Gold recently touched a record upper of Rs 1,35,496 per 10 grams. This level was achieved in the February futures contract. Silver moreover created history by crossing Rs 2,00,000 per kilogram. Its record upper stood at Rs 2,01,615 per kilogram. These levels attracted widespread attention. Investors rushed to typesetting profits soon after.
How Much Have Prices Dropped From Record Levels?
Gold has wilt cheaper by nearly Rs 2,000 per 10 grams from its peak. Silver has corrected plane increasingly sharply. The white metal is now virtually Rs 5,000 per kilogram unelevated its record high. This waif has brought some relief to buyers. However prices are still historically high. Volatility remains strong.
Is Global Demand Still Supporting Prices?
Despite the fall, global demand remains firm. Gold continues to vamp investors as a unscratched oasis asset. Silver demand is supported by industrial usage. Renewable energy and electronics sectors uplift silver consumption. Experts say fundamentals remain strong. The current dip is not demand driven. It is mainly due to short term profit taking.
What Are Experts Saying About This Correction?
Market analysts say the correction is healthy. Prices had risen too fast in a short period. Profit booking was inevitable at record levels. Experts teach circumspection for short term traders. Long term investors may use dips to accumulate. Volatility may protract in coming sessions. Global cues will play a key role.
What Should Investors Do Now?
Experts suggest lamister panic selling. Long term outlook for gold and silver remains positive. Investors should track global inflation and interest rate signals. Buying on dips may be considered with proper planning. Risk management is crucial in volatile markets. Precious metals still hold value as hedges. The trend remains under watch
