Gold, Silver Prices Recover Amid Market Volatility
Gold and silver prices have made a slight recovery in recent days, sparking hopes of further price growth among investors. According to data from Multi Commodity Exchange of India Limited (MCX), gold rates rose from Rs 1,40,792/10g on July 17 to Rs 1,44,089/10gm on July 23, while silver prices climbed from Rs 2,15,936/kg to Rs 2,22,108/kg over the same period.
Vedika Narvekar, a research analyst at Anand Rathi Share and Stock Brokers, attributes this recovery to factors such as US President Donald Trump's proposed tariff measures and continued central bank buying. She notes that while bargain hunting may be driving this recovery, there is no decisive shift in fundamentals.
Narvekar advises long-term investors not to panic sell after a price correction and suggests adopting a staggered investment approach for new precious metal investors. This approach will help average purchase costs and reduce the risk of entering the market at temporary highs.