Gold and silver prices have taken a downward turn on Republic Day as expectations for easing tensions between the US and Europe emerge. After a day of stability, the prices of both gold and silver have decreased. In the capital city of Delhi, the price of 24-carat gold dropped by ₹10 to reach ₹16,480 per ten grams, while 22-carat gold also fell by ₹10 to ₹15,100. Prior to this day, from January 19 to January 25, 2023, gold prices had risen by ₹16,480 for 24-carat and ₹15,100 for 22-carat gold.
### Silver Prices Decline
Silver has also experienced a setback after a brief period of stability. Between January 19 and January 25, the price of one kilogram of silver had surged by ₹40,000. However, on January 26, silver prices in Delhi decreased by ₹100, bringing the cost to ₹3,34,900 per kilogram. In major cities like Mumbai and Kolkata, silver is trading at the same price, while in Chennai, it is priced at ₹3,64,900 per kilogram, making it the most expensive among the four metropolitan areas.
### Investor Warnings Amid Silver Surge
Strong retail buying and a long-standing tightness in the physical market propelled silver prices significantly, even outpacing gold. Analysts suggest that geopolitical tensions and the demand for safe-haven investments are benefiting both metals. Investor interest in silver is on the rise due to its lower unit price compared to gold, attracting smaller investors. Despite the surge, some experts urge caution. Rona O’Connell, an analyst at StoneX, warns that while many are eager to join the silver rally, this rapid increase may signal upcoming volatility. If signs of weakness surface, a swift decline could follow.
### Expert Guidance on Silver Investments
Investors are now questioning whether they should take profits amid silver’s peak prices. Industry experts recommend consulting certified advisors before making any investment decisions. For the latest updates on the stock market, personal finance, and business news, stay tuned to Moneycontrol. Download our app for daily market updates.