Gold prices rebounded sharply on Monday, climbing Rs 1,300 to Rs 1,50,000 per 10 grams (inclusive of all taxes) after a three-day losing streak, according to PTI. In the previous session, the yellow metal had settled at Rs 1,48,700 per 10 grams.
Silver continues to decline
Silver, however, continued its downward trend for the fourth consecutive session, plummeting Rs 2,000 to Rs 2,24,000 per kg (inclusive of all taxes). The white metal had closed at Rs 2,26,000 per kg in the prior session.
The divergence in the performance of the two precious metals highlights varying market dynamics, with gold finding support from safe-haven buying while silver faces industrial demand concerns.
Market sentiment and outlook
Analysts attributed gold's recovery to bargain buying after the recent correction, coupled with global economic uncertainties. Silver's persistent fall reflects weaker industrial demand and profit-booking by investors.
Market participants are now eyeing upcoming economic data and central bank policy cues for further direction. The rebound in gold may be short-lived if the US dollar strengthens or interest rate expectations shift.
