Gold and silver prices eased on Wednesday after scaling fresh record highs, prompting investors and consumers to reassess their buying strategy. The pullback comes after a sharp rally in recent weeks, with analysts describing the move as a healthy pause rather than a reversal.
In the domestic market, MCX Gold slipped back into the Rs 1,63,000–Rs 1,80,500 range after recently touching an all-time high near Rs 1,80,779. Silver also cooled after its rapid surge above Rs 4,20,000, stabilising at slightly lower but still elevated levels.
Market experts attribute the decline mainly to profit booking following the steep rally. On the global front, COMEX gold has eased from above 5,600 dollars to the 5,160–5,320 dollar zone, while silver is consolidating near 108–111 dollars after hitting record highs. Despite the pullback, strong buying interest continues to emerge at key support levels, indicating that the long-term bullish trend remains intact.
Domestically, gold is finding support in the Rs 1,57,000–Rs 1,59,000 zone, while silver is seeing steady demand around Rs 3,55,000–Rs 3,60,000. Analysts suggest that for long-term investors, such dips offer an opportunity to enter the market through staggered purchases, while short-term traders should be prepared for continued volatility.
