Overview
- Silver tumbled about 8.7% in a single session after touching a record $83.62 an ounce, then steadied near $73, marking its steepest one-day fall since August 2020.
- Gold eased from a fresh peak around $4,550 an ounce and recovered part of Monday’s slide, which was its sharpest daily drop in two months.
- Analysts cite profit-booking, technical overextension and thin holiday liquidity for the reversal, with a CME increase in initial margins on March 2026 silver contracts to $25,000 from $20,000 adding pressure.
- Despite the pullback, 2025 gains remain outsized, with gold up roughly two-thirds and silver up about 150%, supported by expected US rate cuts, persistent official-sector and ETF demand, and strong industrial use.
- Local markets reflected the repricing: Indian retail gold hovered near Rs 1.35 lakh per 10 grams and silver around Rs 2.23 lakh per kg, while Pakistan’s 24-karat gold fell Rs 5,500 per tola to about Rs 470,162.