New Delhi, Feb. 12 -- Gold and silver prices are entering a prolonged three- to five-year bull cycle, supported by favourable macroeconomic conditions, structural demand trends, and shifting investor preferences, according to Emkay Wealth Management's latest report.

The comments come amid a recent correction in precious metals. Gold prices have fallen about 14% from their peak, while silver has declined nearly 40%, a pullback that could emerge as a potential long-term accumulation opportunity.

After the late-January selloff, the two metals have largely moved into a consolidation phase. On Thursday, gold hovered around Rs.1,58,000 per 10 grams on the Multi Commodity Exchange (MCX), while silver traded near Rs.2,61,300 per kg.

According ...