Thursday’s trading session brought relief to buyers as gold and silver prices corrected downward on MCX, ending a three-day rally. February gold fell 0.67% or 1,022 rupees to 1,51,840 per 10 grams; March silver declined 0.63% or 1,992 rupees to 3,16,500 per kg.
From Wednesday’s pinnacles—gold at 1,58,475 rupees, silver at 3,35,521 rupees—the metals pulled back amid waning safe-haven flows. Global gold dipped to 4,790-4,800 dollars/oz from 4,887 dollars, with silver stable at 92-93 dollars on industrial tailwinds.
Easing Greenland tensions, clarified by Trump at Davos—no EU tariffs, no force, NATO talks ahead—lifted the dollar to 98.81. This dynamic squeezed precious metals pricing.
Futures metrics show shrinking open positions, confirming exits from recent gains. Experts highlight silver’s resilience from solar, EV, AI, and electronics booms, offsetting some pressure.
Market gaze shifts to US inflation metrics and job reports, harbingers of Fed moves. No January rate tweak expected, but two by year-end.
This correction underscores profit cycles in bull markets. Long-term, gold and silver shine as portfolio diversifiers against fiat debasement and geopolitical flux, advising measured accumulation on dips.