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Gold and silver prices witnessed a slight recovery on Tuesday, showing mild gains after a weak performance in the previous session. Both precious metals reflected slight optimism in the commodity market.

On the Multi Commodity Exchange (MCX), gold is trading around Rs 1,20,162 per 10 grams, marking a 0.3 per cent rise from the previous close of Rs 1,19,797. The yellow metal opened at Rs 1,19,797 in the second session and gradually recovered to the day’s high of Rs 1,20,413 at around 6:55pm.

In the international market, gold prices stood at $3,966.03 per troy ounce, up 0.39 per cent. Over the course of the day, gold surged by 0.64 per cent, though it still shows a 0.75 per cent decline over the last 30 days.

Silver also moved in tandem with gold, showing a marginal gain in both domestic and global markets. On MCX, silver is trading at Rs 1,45,987 per kilogram, up 0.35 per cent, after touching an intraday high of Rs 1,46,148 at around 5:21 PM.

Whereas, in the international market, silver was quoted at $47.78 per troy ounce, reflecting a 0.47 per cent increase. Despite today’s gains, silver remains 0.48 per cent lower compared to last month’s performance.

Due to Guru Nanak Jayanti, MCX remained closed during the morning session and reopened at 5:00 PM (IST), with trading continuing until 11:30–11:55 PM (IST).

Market analysts suggest that the slight uptick in gold and silver prices is driven by cautious global sentiment and expectations surrounding the U.S. Federal Reserve’s next policy move. Investors are likely to keep a close eye on inflation data and currency trends for further direction in bullion prices.

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For investors, the key question now is whether gold can reclaim its all-time high of Rs 1,32,294 per 10 grams and silver can revisit its record level of Rs 1,70,415 per kilogram in the coming month.

According to experts, the ongoing decline could be just a minor correction, not a comprehensive reversal, at least in the near term. Nevertheless, the fate of the dip as a buying opportunity is very much dependent on the forthcoming policy action of the U.S. Federal Reserve.

If the Fed hints at interest rate cuts, it could once again boost demand for safe-haven assets like gold and silver, potentially driving prices upward as investors seek stability amid global economic uncertainties.

Akanksha is a writer who covers personal finance and commodities, with prior experience in cryptocurrency reporting. She has also covered political elections a