Precious Metals Trade Cautiously Amid Global Corrections

The precious metals market has been experiencing cautious trading sessions in recent days as traders weigh global corrections. Domestic spot gold and silver prices have remained steady, hovering near recent correction ranges over the weekend while futures exchanges were closed.

Jewellers across major metros such as Zaveri Bazaar and Chandni Chowk reported subdued footfall due to retail buyers waiting for clearer cues on interest rate trajectories before making any purchases. Commodity desks noted that international Comex yellow metal prices remained stable around $4,390 an ounce, while silver faced downward pressure.

Wholesalers observed a rise in hedging activity among institutional desks as they try to mitigate risks amid the market uncertainty. However, physical retail demand remains thin due to the lack of clear direction on interest rates.