Gold prices experienced a sharp decline on Tuesday, falling by 5 percent to $4,120 per ounce after reaching a record high of $4,381 on Monday. This marks the largest one-day drop in gold since 2020. Despite this, gold remains at elevated levels, boasting a gain of approximately 60 percent this year.

Experts suggest that investors are now engaging in profit booking following such a rapid rise. Metal trader Tai Wong noted that market volatility is encouraging short-term investors to secure profits. Similarly, silver prices plummeted by over 6 percent, dropping below $50 per ounce.

Attention has now shifted to US inflation data, which has been delayed until Friday due to the government shutdown. Traders are eager to discern future interest rate trends. Typically, lower interest rates make

See Full Page