Key insights
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1
Safe-haven demand and supply constraints were cited as key drivers of the silver rally: Traders cited US-Venezuela tensions boosting safe-haven appeal, plus supply-side constraints, strong industrial usage, sustained investor buying, and China’s export curbs effective January 1.
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2
Gold’s dip was linked to profit-taking and a stronger US dollar: An HDFC Securities analyst said investors took profits after a recent rally and that a recovery in the US dollar weighed on gold prices.
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3
Specific price levels were identified for silver in overseas trade: Augmont’s research head cited USD 84 and USD 88.5 as next levels to watch if silver breaks the previous top again.
Takeaways
Silver set a new record in New Delhi at Rs 2,56,000 per kilogram, while gold edged lower and overseas precious-metal prices were down on the day.