NEW DELHI: After a spectacular run in the pandemic-hit 2020, precious metals have failed to impress despite a volatile beginning in the new fiscal year. Analysts, however, believe that the current consolidation phase is nothing but a normal one after last year s peak. With fundamentals suggesting lower rates and higher anticipated inflation numbers, gold and silver prices may start their up trend again, attracting attention towards precious metals, Sunil Kumar Katke, Head - Commodity and Currency, Axis Securities, told ETMarkets.com.
Last year, gold delivered a return of 45 per cent. Gold prices have declined by 25 per cent now from its peak of Rs 56,191 reached last year. The yellow metal is hovering around Rs 46,900-47,000 per 10 gram, implying a fall of Rs 9,300. Similarly, silver has plunged up to 15 per cent from the peak of Rs 77,950 to Rs 68,800-69,000.