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Gold vs Silver Showdown: Record Prices, Key Trends & Investment Outlook 2025
28 October 2025
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Gold & Silver Prices Crash After Historic Rally – Should You Buy, Hold or Sell Now?

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  • Sharp pullback from records: Gold futures tumbled about 2% in India on Oct 28 (to ~₹1.21 lakh per 10g) [1], down from mid-October peaks above ₹1.30 lakh. Internationally, spot gold slid toward $3,940/oz (a three-week low) as US-China trade optimism reduced safe-haven demand [2] [3]. Silver also fell sharply after hitting an all-time high (~$54.5/oz) in mid-October [4].
  • Expected correction: Analysts say a 10–15% correction was overdue after gold’s furious rally from ~₹75,000 to ₹1.30 lakh in recent months [5] [6]. Vighnaharta’s Mahendra Luniya calls this “both expected and necessary,” noting it should take prices back toward ~₹1.15 lakh per 10g [7]. Even after this drop, demand in India remains strong, buoyed by the festival and wedding season [8]. As one expert puts it, this looks like a “pause, not a reversal” in the uptrend [9] [10].
  • Drivers of the slide: Encouraging US-China trade talks (an ASEAN framework deal) lifted risk appetite and knocked gold down [11] [12]. “A de-frosting of U.S.-China trade relations has somewhat pulled the rug out from under the gold price,” notes Tim Waterer of KCM Trade [13]. At the same time, markets expect the Fed to cut rates (lowering real yields), which usually supports gold [14] [15]. UBS strategist Giovanni Staunovo cautions that even a positive trade deal could be bullish for bullion: with lower tariffs, the Fed may ease policy more, and “lower real interest rates should still support demand for gold” [16].
  • Silver’s wild ride: Silver has been even more volatile. After soaring past $50 (briefly touching $54.5) for the first time since 1980, it plunged on profit-taking [17] [18]. Silver is still up about 65–70% year-to-date [19]. Ts2.tech reports analysts see a “perfect storm” behind silver’s boom: geopolitical tension, inflation/weak dollar fears, Fed easing, booming industrial demand (solar, EVs) and tight supply [20]. With the recent dip, one commentator observed “we have a short-term top at $54” and that silver may trade choppily just under $50 for now [21]. Even so, fundamentals (industrial uses) remain solid [22].
  • What experts say: Views are split. In India, gold experts still find buyers even at high prices [23]. Augmont’s Renisha Chainani notes that despite profit-booking, “gold’s overall outlook remains optimistic” [24]. Many advise using dips to accumulate bullion. XTB’s Michał Stajniak cautions that trade-deal news is pressuring gold now [25], but he also sees the recent drop as a buying opportunity if the rally stalls (gold is still in a long uptrend). Conversely, Reliance Securities’ Jigar Trivedi is more bearish short-term, recommending a “sell on bounce” strategy: he sees support around ₹1.15–1.17 lakh and resistance near ₹1.20 lakh, with focus on the Fed meeting and the Trump-Xi summit [26].
  • Forecasts diverge: Some banks remain ultra-bullish – for example, HSBC raised its 2025 average gold forecast to ~$3,455/oz and says a $5,000 level by 2026 is “possible” given ongoing risks [27]. By contrast, Capital Economics’ Neil Shearing warns that gold’s record highs (in real terms) may be unsustainable: he now forecasts gold falling back to ~$3,500/oz by end-2026 [28]. In any case, most agree volatility will persist: as one analyst notes, “buying the dips” may pay off, but only after this healthy correction shakes out the speculative froth [29] [30].

Gold’s recent retreat reflects changing sentiment more than broken fundamentals. As Metals Focus’s Matthew Piggott puts it, gold’s epic 2025 rally “reflects an extremely positive macro backdrop for safe-haven assets” [31]. For now, though, investors will be watching Wednesday’s US Fed meeting and any news from Trump-Xi trade talks – events that could keep bullion on edge. If the Fed cuts as expected, the dollar might weaken (supporting gold long-term), but a smooth trade path would damp immediate demand for safety. In short, this pullback seems like a normal correction. Many experts are watching key levels (around ₹1.15–1.17 lakh in India, $3,830–3,865 internationally as technical support) [32] [33]. For confident buyers, it may be a “window of opportunity” [34] – but traders should stay cautious and follow the evolving forecasts.

Sources: Current prices and expert comments are drawn from India Today [35] [36], Reuters [37] [38], Livemint [39], Moneycontrol [40], and Ts2.tech analysis [41] [42], among others. These cover both domestic (MCX) and global gold/silver markets as of Oct 28, 2025.

Gold, Silver Prices Pull Back, What Experts Think is Next
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References

1. www.indiatoday.in, 2. www.reuters.com, 3. www.indiatoday.in, 4. ts2.tech, 5. www.indiatoday.in, 6. www.indiatoday.in, 7. www.indiatoday.in, 8. www.indiatoday.in, 9. www.indiatoday.in, 10. www.indiatoday.in, 11. www.reuters.com, 12. www.financemagnates.com, 13. www.reuters.com, 14. ts2.tech, 15. www.livemint.com, 16. ts2.tech, 17. ts2.tech, 18. ts2.tech, 19. ts2.tech, 20. ts2.tech, 21. ts2.tech, 22. www.indiatoday.in, 23. www.indiatoday.in, 24. www.indiatoday.in, 25. www.financemagnates.com, 26. www.livemint.com, 27. ts2.tech, 28. www.reuters.com, 29. ts2.tech, 30. ts2.tech, 31. ts2.tech, 32. www.livemint.com, 33. www.financemagnates.com, 34. www.indiatoday.in, 35. www.indiatoday.in, 36. www.indiatoday.in, 37. www.reuters.com, 38. www.reuters.com, 39. www.livemint.com, 40. www.moneycontrol.com, 41. ts2.tech, 42. ts2.tech

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CEO of TS2 Space and founder of TS2.tech. Expert in satellites, telecommunications, and emerging technologies, covering trends in space, AI, and connectivity.

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Stock Market Today

  • Tuesday Sector Laggards: Utilities and Financials Drag the Market
    October 28, 2025, 4:30 PM EDT. Equities are mixed, with Utilities among the day's laggards and Financials not far behind. At midday, Utilities were down about 1.2%, led by Vistra Corp (VST) (-3.6%) and NextEra Energy (NEE) (-2.7%). The XLU ETF fell 1.5% but remains +21.46% YTD, with VST and NEE together making up roughly 16.8% of XLU's holdings. In Financials, the sector dropped 1.1%, as ARE fell 17.9% and BRO -5.2%. The XLF ETF is -0.4% on the day and +11.05% YTD; ARE is -29.09% YTD and BRO -17.99% YTD, with BRO ~0.3% of XLF's holdings. YTD figures frame today's moves in a broader context.
  • Tuesday Sector Leaders: Materials Lead; Industrials Mixed Midday Trading
    October 28, 2025, 4:20 PM EDT. Through midday Tuesday, the Materials sector leads with a 0.3% gain, helped by Sherwin-Williams (SHW) and Nucor (NUE), up about 5.5% and 4.9% intraday. The Materials Select Sector SPDR ETF (XLB) is up 0.4% and 7.66% YTD; SHW and NUE together account for roughly 11.2% of XLB. The Industrial sector is the second best performer, down only 0.1%, with PayPal (PYPL) and United Parcel Service (UPS) rising 8.0% and 7.9% on the day. The Industrial Select Sector SPDR ETF (XLI) is down 0.1% today, but up 19.20% YTD. PYPL is down 11.10% YTD and UPS down 19.73% YTD, with UPS representing about 1.5% of XLI. Across sectors, eight are lower and one up for the S&P 500 components; overall, the mood is mixed.
  • Fed Rate Cut Expectations Keep Crypto Traders Eyeing Bitcoin and Ethereum
    October 28, 2025, 4:10 PM EDT. Markets expect a 25-basis-point Fed rate cut, with a ~97.8% probability, but crypto impacts remain debated. Analysts say ending quantitative tightening could be a tailwind for Bitcoin as inflation tolerance rises, with Bank of America and JPMorgan signaling QT may end soon. Bitcoin traded around $114,850 after a flat day; Ethereum hovered just above $4,100, up versus a week ago but down on the day. Traders believe the cut is largely priced in, and easier policy historically supports crypto and risk assets into 2026. The key question is whether the Fed will unwind QT and how that would affect liquidity and inflation expectations, shaping the near-term moves for BTC, ETH, and broader markets.
  • Carter's (CRI) Dips After Weak Q3 Results and Restructuring Plan
    October 28, 2025, 4:03 PM EDT. Carter's (CRI) shares fell about 3.9% after reporting a weak third-quarter with EPS of $0.32 vs $1.62 a year earlier and revenue of about $758 million. The company announced a sweeping restructuring: closing about 150 stores and cutting 300 corporate jobs, while tariffs and higher product costs pressured margins, leading to suspended fiscal 2025 guidance. The stock is down 41.8% YTD and trades around $31.31, well below a 52-week high of $57.01. The move underscores how trade tensions weigh on consumer discretionary names; a potential easing of tariffs could lift margins and sales. The report notes the sector's sensitivity to international relations and suggests investors may view the decline as meaningful but not a fundamental change in the business.
  • Great-West Lifeco's Series P Preferred Shares Cross 5.5% Yield Threshold
    October 28, 2025, 4:00 PM EDT. Great-West Lifeco Inc's Non-Cumulative First Preferred Shares, Series P (GWO-PRP.TO) traded near $24.53 in Tuesday's session, delivering a yield above 5.5% based on the quarterly dividend (annualized to $1.35). The shares stood at about a 1.60% discount to liquidation preference. Importantly, the non-cumulative feature means missed payments aren't carried forward before resuming a common dividend. On the day, the common shares (GWO.TO) rose modestly alongside a slight uptick in GWO-PRP. Investors should weigh the discount to liquidation and the non-cumulative structure when assessing risk and return in this preferreds issue.
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