In Monday's highly volatile trading, the decline in spot silver widened to 8%, and spot gold fell below $4,400 per ounce. Saumil Gandhi, senior commodity analyst at HDFC Securities, said, “Gold and silver prices fell from record highs on Monday, as traders made profits after record gains.” Gandhi further indicated that both gold and silver were in the overbought region during the higher time period, which is a cautious sign that a healthy correction is needed before the rally continues. “We expect the price of gold to face further corrective pressure as investors adjust and rebalance their positions at the end of the month and year,” he said.

In Monday's highly volatile trading, the decline in spot silver widened to 8%, and spot gold fell below $4,400 per ounce. Saumil Gandhi, senior commodity analyst at HDFC Securities, said, “Gold and silver prices fell from record highs on Monday, as traders made profits after record gains.” Gandhi further indicated that both gold and silver were in the overbought region during the higher time period, which is a cautious sign that a healthy correction is needed before the rally continues. “We expect the price of gold to face further corrective pressure as investors adjust and rebalance their positions at the end of the month and year,” he said.