Gold and silver prices slipped on Thursday after recent strong gains, as traders and investors booked profits following rallies to multi-week and record highs. Both precious metals pulled back in the futures market on the Multi Commodity Exchange (MCX), with gold futures trading lower and silver retreating from its recent peak as profit-taking intensified.
The mild correction came after silver hit a lifetime high in the prior session and gold hovered near record levels, prompting traders to lock in some gains. Despite the ease, both metals remain close to their high levels, supported by weaker rupee and positive international cues such as expectations of future U.S. Federal Reserve rate cuts.
Market participants linked the profit booking to the sharp run-up in bullion prices recently, which encouraged short-term selling pressure, while broader fundamentals — including Fed policy outlook and geopolitical tensions — continue to underpin interest in precious metals as a hedge.
In summary, gold and silver eased modestly after strong gains, reflecting standard profit-booking behaviour amid still-supportive macroeconomic conditions.
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