Gold & Silver Rally Stalls: Analyst Reveals New Targets

Gold and silver have delivered stellar year-to-date returns - nearly 70% in silver and 50% in gold - but the rally now appears to be losing momentum. According to market expert Kunal Shah, heavy profit-booking has begun after physical silver traded at an extraordinary premium of ₹25,000, causing jewellers and bullion traders at Mumbai’s Zaveri Bazaar to pull back sharply. Shah expects a meaningful correction, projecting silver could fall toward ₹1,45,000 and gold may test ₹1,18,000 in the near term. With physical buyers having chased prices as high as ₹1,80,000 - ₹1,85,000 in silver, that frenzy marked the top. Shah believes the best part of the rally is over, recommending a sell-on-rise strategy with targets around $4100 / $3008 levels.