Gold and silver prices have been showing heavy fluctuations over the past few weeks. After touching record high levels in January, both metals suddenly fell and are now recovering again. However, current prices are still trading below their peak levels.

The main reasons for these price changes are geopolitical tensions and policies of the US Federal Reserve. When global tensions reduced slightly, prices came down. At the same time, profit booking at higher levels also controlled the rise in gold and silver prices. Recently, gold prices touched nearly Rs. 2 lakh per 10 grams, while silver crossed around Rs. 4 lakh per kilogram in some markets. After that, prices corrected. Experts say that even though there is short-term volatility, the long-term upward trend for gold and silver is still strong, which means prices may increase further in the future.

After former US President Donald Trump announced his nominee for the Federal Reserve Chair position, gold prices fell sharply on January 30 and February 2 during two consecutive sessions. Despite this recent correction, gold has risen about 17.5% so far this year due to ongoing geopolitical tensions and economic uncertainty. Expectations of further interest rate cuts by the Federal Reserve also supported prices on Wednesday. At the latest closing, 22-carat gold was priced at Rs. 14,965 per gram, 24-carat gold at Rs. 16,325 per gram, and silver at around Rs. 2,77,000 per kilogram.