Quote on why gold and silver prices are down today by Hareesh V, Head of Commodity Research, Geojit Investments Limited
Below the Quote on why gold and silver prices are down today by Hareesh V, Head of Commodity Research, Geojit Investments Limited
"Gold and silver extended their corrective phase today, weighed down by a stronger US dollar and profit?booking after the recent rally. With US markets closed yesterday for a holiday, trading volumes remained thin, while the ongoing Lunar New Year holidays in China further dampened activity across Asian markets, contributing to subdued investor sentiment. Market participants are also turning cautious ahead of key US economic releases this week, including the FOMC meeting minutes and the latest GDP data, both of which could influence expectations on the Federal Reserve’s policy path. Despite the prevailing pressure, downside in precious metals may remain limited, as escalating tensions between the US and Iran continue to provide a firm geopolitical floor. Overall, traders appear to be adjusting positions amid low liquidity and upcoming macro triggers, waiting for clearer cues before taking fresh directional bets in gold and silver."
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