Sun Apr 06 20:40:00 UTC 2025: ## Precious Metals Prices Cool Off After Record Highs

**Chennai, India (April 7, 2025)** – Gold and silver prices, which soared to record highs in March, are experiencing a temporary downturn, according to a Chennai-based analyst. While the long-term outlook remains positive, a short-term correction is anticipated.

Comex gold reached an all-time high of $3,157.40 in March, a 10.1% increase, driven by concerns over US tariffs and expectations of interest rate cuts by the Federal Reserve. Similarly, Comex silver climbed 9.65% to $34.76 an ounce.

However, the analyst predicts a price drop for Comex gold to the $2,980-$3,000 range, and for Comex silver to $26-$26.50. This correction is attributed to fears of a recession and retaliatory tariffs from China.

The Indian market mirrored the global trend, with MCX gold reaching ₹90,820 per 10 grams (a 6.8% increase) and MCX silver hitting ₹1,00,001 per kilogram (a 5.8% increase) in March. The analyst forecasts a short-term decline in MCX gold to ₹84,500-₹85,000 and MCX silver to ₹80,200-₹80,700.

Despite the predicted short-term cooling-off period, the analyst maintains a positive long-term outlook for both gold and silver. This analysis focuses on short-term price movements and is not intended as investment advice.

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