Gold, silver slip despite weaker US dollar amid rising inflation
Gold and silver prices slipped on Thursday, even though a weaker US dollar usually helps them out.
Gold dropped 0.19% to $4,697.80 per ounce, while silver fell 1.44% to $88.09 per ounce.
Investors are now keeping an eye on the ongoing U.S.-China trade talks and rising inflation, with April's US producer price data showing its biggest jump in four years.
India duty hike cools gold demand
India's recent gold import duty hike has cooled off demand: gold discounts widened over $200 per ounce as fewer people bought at higher prices.
Many are switching to lighter, multifunctional jewelry that feels personal but also works as an investment.
There's also been a big jump (186% year over year) in gold ETF investments by the first quarter of 2026, showing more people are choosing financial products over buying physical gold.
Analysts warn against chasing gold hype
Analysts say don't just chase the hype: gold is better seen as a safety net than a get-rich-quick asset.
Even PM Modi voiced concern about India's massive $70 billion annual gold import bill and what it means for the economy.