PRECIOUS METALS ENTER UNSURE PHASE POST-RALLY

OLD and silver prices defied expectations, hitting record highs earlier this month.

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But the rally has quickly given way to a sharp correction, and both metals seem to be entering a phase of heightened uncertainty, with analysts cautious about short-term forecasts, though few see the fall as a reversal of the rally. Gold fell from its peak of around ₹1.11 lakh for 10 grams to about ₹1.04 lakh on Friday, while silver dropped from nearly ₹1.70 lakh a kilo to ₹1.59 lakh. Globally, gold saw its steepest one-day fall in more than a decade—over 5.7 percent—ending a nine-week winning streak. Silver, buoyed earlier by festive demand, too fell more than six percent, marking its sharpest drop since March.