Gold & Silver pull back, but bullish trend expected to continue

This week, gold and silver prices, typically considered secure investment options, experienced a mild correction following a recent robust bull run.

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The declines are attributed to several factors, including profit booking by investors, a relative weakening of the USD index (which inversely impacts their prices), and signals from the US central bank suggesting a delay in reducing key interest rates.

Gold has been in high demand for an extended period, with its prices frequently reaching record highs. Various factors such as geopolitical tensions in West Asia, significant purchases by several central banks including the Reserve Bank of India (RBI), and robust physical demand have collectively propelled gold prices upwards. Both gold and silver are scarce commodities, and any imbalances in demand supply dynamics can lead to sharp price fluctuations.