Gold, Silver Rebound After 4-Day Slump: What's Next for Precious Metals?

• Gold and silver saw a significant rebound after a three-day decline, with 24-carat gold becoming cheaper by ₹3,560 per ten grams in Delhi and silver dropping by ₹15,100 per kilogram.
• Stronger dollar and reduced geopolitical tensions are cited as primary reasons for the previous price drop, as a stronger dollar typically reduces international gold demand.
• Market attention is now focused on US PCE inflation data and the Federal Open Market Committee (FOMC) meeting, with potential for continued pressure on gold if interest rates remain high.
• Experts suggest bullion is in a consolidation phase, with US GDP and Fed comments crucial for future direction; long-term investors advised to buy on dips.
• Indian gold demand is influenced by weddings and festivals, while silver prices are also affected by industrial demand; short-term traders should monitor global cues.