Silver Surges to Record Highs, Outshines Gold; Fed Decision, Rupee to Guide

• Gold prices are expected to remain firm, driven by investor focus on the US Federal Reserve's monetary policy outcome and a weak rupee.
• Indian gold prices rallied more than global rates due to the rupee's depreciation, reaching 90 against the dollar.
• Silver continues to outperform gold, reaching record highs on both MCX (Rs 1,85,234/kg) and Comex (USD 59.90/ounce).
• The silver rally is attributed to strong industrial demand and tight supplies, with potential to reach Rs 2,00,000-2,25,000 in the short term.
• The upcoming week is crucial for bullion prices, influenced by Fed policy cues, macroeconomic data from China and the US, and rupee trends.

Why It Matters: It impacts investment decisions for gold and silver in a volatile market.