In Hyderabad, gold and silver prices showed a notable recovery on Wednesday after experiencing a significant drop over the past five days. The cost of 24-karat gold increased by ₹6,600, reaching ₹1,60,530 for 10 grams. Similarly, 22-karat gold saw a rise of ₹6,050, settling at ₹1,47,150 for the same weight.
The price of silver, which had fallen from an all-time high of ₹4,25,000 per kilogram to ₹3,00,000 within five days, also rebounded. Silver rose by ₹20,000, bringing it to ₹3,20,000 per kilogram.
Experts from JP Morgan believe that the recent sharp decline in gold and silver prices is temporary. They predict that demand will remain strong in the long term, leading to a recovery in prices. Although both metals saw a 13% drop within a week, experts anticipate further fluctuations in the short term but expect an upward trend over time. Gold and silver are still considered safe investments, and their price stabilization is seen as inevitable.
Despite market volatility, analysts assure that gold and silver can offer substantial returns in the long run. However, they caution that prices may continue to fluctuate in the near future. They recommend a strategy of gradual investment, buying in small amounts when prices dip. Keeping an eye on international developments, global market trends, and international events is advised for making informed investment decisions in these precious metals.
