Overview
- Silver’s sell-off extended with extreme swings, dropping nearly 17% intraday to about $63.90/oz on Comex, while Indian benchmarks slumped, with the All India Sarafa Association citing Rs 2.55 lakh per kg.
- Gold showed relative resilience, jumping roughly 2–3% on Friday and quoted near $4,967/oz on Saturday, as Pakistan’s APSGJA reported a Rs11,700 per tola rebound after a Rs21,400 plunge a day earlier.
- CME Group raised margin requirements on gold and silver again this year, a step widely linked to forced position cuts and heightened volatility across precious metals.
- Analysts pointed to profit-taking, a stronger US dollar, and shifting safe-haven demand influenced by reported US–Iran talks in Oman as key drivers of the bullion correction.
- Local market stresses included sharply lower Indian gold premiums from last week’s highs and limit-down pressure on China’s only silver futures fund, even as seasonal demand signals emerged around Lunar New Year.