Precious metals witnessed mixed movement in the domestic market as gold prices edged higher while silver recorded a marginal decline. Traders attributed the rise in gold to firm global cues and steady demand from investors seeking safe-haven assets at the start of the New Year.
On the other hand, silver prices slipped slightly, reflecting subdued industrial demand and cautious sentiment among traders. Analysts noted that while gold continues to benefit from global uncertainties and expectations of monetary policy adjustments, silver remains more sensitive to industrial consumption trends.
Market experts highlighted that fluctuations in the US dollar and global interest rate outlook are likely to influence precious metal prices in the near term. Domestic demand, particularly ahead of the wedding season, is also expected to provide support to gold.
Overall, the contrasting movement in gold and silver underscores the divergent factors driving precious metals, with investors closely monitoring global economic indicators and currency trends for further direction.
