Gold Loses Shine, But Silver Keeps Running Fast – How Did Prices Move Last Week?
Gold prices have shown some weakness, and its shine looks a little dull for now. On the other hand, silver is moving ahead strongly and continues its upward journey in the bullion market.
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Last week, gold remained under pressure due to global uncertainty and profit booking by investors. Prices moved in a narrow range and failed to show strong momentum.
Silver, however, surprised everyone. Demand from industry and positive global signals helped silver maintain its fast pace. Investors are closely watching silver, as it is performing better than gold at the moment.
Market experts say gold may stay slow in the short term, while silver could continue to attract buyers if current trends remain the same.
How Much Have Silver Prices Increased?
Silver prices continue to remain strong. Over the past one week, silver prices have risen by ₹4,887 to reach ₹2,00,067 per kilogram, compared to ₹1,95,180 per kilogram last week.
At the international level, both gold and silver prices have seen an upward trend this week. Gold was trading at $4,387 per ounce, while silver was priced at $67.489 per ounce.
Earlier on Friday, gold prices had fallen by ₹695 per 10 grams, and silver prices had declined by ₹1,053 per kilogram.
What Is the Future Direction of Gold and Silver Prices?
Jatin Trivedi of LKP Securities said that during Friday’s trading session, gold moved within a limited range. One of the key reasons was the strengthening of the rupee against the US dollar.
In the coming days, market focus will remain on US housing sales data and other important economic indicators. Gold prices are expected to trade in the range of ₹1,31,500 to ₹1,34,000.
At present, the value of the rupee against the dollar is playing a crucial role in determining domestic gold and silver prices. Therefore, movements in the rupee will continue to have a significant impact on gold and silver prices in the near future.
Frequently Asked Questions (FAQs)
1. Why did gold prices fall last week?
Gold prices faced pressure due to profit booking and weak global cues, which reduced buying interest.
2. Why is silver performing better than gold?
Silver is getting support from industrial demand and positive market sentiment, helping prices rise.
3. Is silver a better investment than gold right now?
Experts believe silver looks stronger in the short term, but gold remains a safe long-term option.
4. Will gold prices recover soon?
Gold may recover if global uncertainty increases or if investors return to safe-haven assets.
5. Should investors buy gold or silver now?
Investment depends on risk appetite. Conservative investors prefer gold, while short-term traders are eyeing silver.
Disclaimer
This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.
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