Gold and silver price today: Bargain buying fuels rebound after sharp sell-off, says IBJA
Precious metals are showing signs of recovery after recent volatility, with investors stepping in at lower levels and short covering supporting prices. However, analysts caution that sharp swings may persist as markets reassess global cues and interest-rate expectations.
Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures, said:
“Gold is rebounding strongly after observing one of the steepest declines in recent times. The recovery indicates bargain buying at lower levels, as investors start to return to the metal after the sharp correction. Although volatility is still high, the recovery indicates that the overall positive sentiment is not lost. In the short term, gold may try to stabilize as markets re-evaluate global trends and rate expectations.”
On the white metal Kamboj added “Silver is making a strong recovery after the sharp sell-off in the previous session. The recovery indicates renewed investor interest and short covering, although sharp movements are likely to continue as silver is more sensitive to market sentiment. If global trends are favorable, silver may continue to recover in the coming sessions.”