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Bullion climbed as much as 0.6% after closing lower on Tuesday
The recent volatility in silver prices and leveraged positions have led to some investors lowering their exposure. Retail investors should evaluate their own positions
The metal has declined about 10% since hitting its all-time peak on Jan. 29, but is still firmly higher this year.
A dramatic unwind which recently hit gold and silver markets recently, erased a significant of their record breaking January gains last week.
Despite a week of choppy trading since the historic rout, gold has recovered around half of its losses.
Except for March and May, every month of 2025 recorded net inflows into gold ETFs. Total inflows for 2025 stood at $4.68 billion, a rise of 262 percent from $1.29 billion in 2024.
Following a string of labour market reports that largely surprised to the downside, attention now turns to the official non-farm payrolls report due February 11 as significant downward revisions could strengthen the case for future rate cuts.
Silver commands a market capitalisation of $4.177 trillion, and is behind Nvidia's $4.184 trillion.
A dramatic unwind which hit gold and silver markets recently has erased a chunk of their record breaking January gains.
Spot silver tumbled to as low as $64 an ounce in early Asian trading
IBJA pegged the price of silver at Rs 2,52,232 per 1 kilogram at its 12:30 pm rate session on February 5, a decline of nearly 9.64 percent in a day.
This came after gold and silver prices were rebounding for the last two sessions following a sharp slump earlier.
The US Nonfarm Payrolls report won’t be released this Friday, but Wednesday’s ADP private-sector jobs data will provide key clues on labour market strength, analysts say.
At Wednesday’s close, the metal was down 11% from an all-time high hit on Jan. 29 but was still up 15% for the year. Silver also advanced, crossing $90 an ounce.
Despite the ongoing rebound, gold and silver, along with their respective ETFs are yet to scale back to their lifetime highs which they hit in late January this year.
Spot gold climbed as much as 4.2% to over $4,855 an ounce, after falling 4.8% in the previous session
Analysts have said that the previous 'violent' drop in the precious metals was more like a technical correction than a deterioration in core fundamentals, and that the longer term drivers remain intact.
Spot gold fell as much as 10% on Monday and is now down almost a fifth from an all-time high reached in the last-but-one session
Silver futures with March expiry have plunged around Rs 1.9 lakh per kilogram after hitting a fresh lifetime high on Thursday. Gold futures meanwhile fell Rs 56,000 per 10 grams during the same time.
Analysts say that Warsh’s hawkish stance and his appointment as Fed chair have lifted the dollar, while Trump’s comments on a potential Iran deal have eased geopolitical worries, pressuring WTI crude.
On Comex, the spot price of gold dropped as low as $4,600, but recovered some gains to hover just above $4,691 per ounce as of 3:32 GMT
Spot gold fell as much as 6.3% on Monday. Silver swung sharply, dropping to around $75 an ounce having earlier climbed as much as 3.2%.
Further downside pressure on precious metals may emerge early in the week as higher CME margins come into effect on Monday, February 2.
The Centre had slashed the customs duty on gold from 15 percent to 6 percent with effect from July 24, 2024.
Silver futures with March expiry reclaimed Rs 2.8-lakh mark, after hitting a low of Rs 2,65,652 per kilogram in the early trading hours of Sunday.
