Introduction: Gold and Silver Under Pressure
Gold and silver prices have recently faced a sharp correction, raising questions among investors about the future of precious metals. With gold declining by 0.21% last week to settle at ₹97,819 and silver hitting an all-time high of ₹116,641 before correcting to ₹113,052, the market is witnessing increased volatility. In the international market, spot gold touched a peak of $3,438 per ounce before retreating to $3,326. These movements are happening amidst improved global risk sentiment and upcoming monetary policy cues from the U.S. Federal Reserve.
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Global Gold Market Overview
Spot Gold Price Movement
As of 0736 GMT, spot gold remained flat at $3,336.75 per ounce after briefly hitting its lowest level since July 17. This indicates a wait-and-watch approach by global investors.
Federal Reserve Impact on Gold
Investors are closely watching the upcoming Federal Reserve policy meeting. A dovish stance may trigger renewed buying in gold, while a hawkish approach could lead to further downside.
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Indian Gold Market Outlook
MCX Gold Trends
In the domestic market, MCX Gold August 5 contracts showed a marginal rise of 0.07% and traded at ₹97,890 per 10 grams. This slight uptick suggests limited upside amid global cues.
Buying Gold in India
Investors in India are still attracted to gold as a safe-haven asset, particularly during inflationary phases and geopolitical uncertainty.
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Silver Market Analysis
Silver Price Correction
Silver, which reached a record high of ₹116,641 during the week, saw a sharp fall to ₹113,052. Renewed optimism around tariffs and risk appetite led to the decline.
MCX Silver Futures Movement
MCX Silver September 5 contracts edged higher by 0.05% to ₹113,107 per kg. The metal continues to remain in demand but is prone to sharp corrections.
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Market Drivers: What’s Causing the Volatility?
Global Risk Appetite
A trade deal between the U.S. and EU has improved investor sentiment, reducing demand for safe-haven assets like gold and silver.
Strong Dollar and Bond Yields
A firm U.S. dollar and rising treasury yields are acting as headwinds for precious metals.
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Investment Strategy Amidst Correction
Is It the Best Time to Buy Gold and Silver?
Market corrections often present a buying opportunity for long-term investors. However, short-term traders need to remain cautious.
Expert Views
Analysts suggest waiting for clarity from the U.S. Fed before making aggressive buys in gold or silver. Support levels for gold lie near ₹96,500 while for silver, it’s ₹110,000.
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Conclusion: Stay Alert, Invest Wisely
Gold and silver remain key investment assets, especially during economic uncertainty. While corrections are part of the natural market cycle, investors should rely on technical and fundamental analysis before making investment decisions.
