New Delhi, Feb. 19 -- After posting their strongest gains in decades in 2025, the blistering rally in gold and silver has cooled in the current year. The bullion kicked off 2026 on a robust note, but a one-way rise in the precious metals halted at the end of January when prices recorded their worst decline in recent history.

Since then, gold and silver have continued to consolidate. Spot gold prices trade over 10% below the all-time high of $5,595. Gold's cheaper cousin, silver, indeed has had a poorer fate as it remains 35% below its peak of $121.

These numbers seem attractive for investors who could not jump in last year's rally and remain in FOMO. But will buying now be a prudent move?

Investors must understand that a large part of ...