On Wednesday, gold and silver prices saw a notable increase, with gold climbing 1.32% to ₹1,51,726 per 10 grams and silver advancing 2.62% to ₹2,50,724 per kg. This rise is attributed to fresh hopes for de-escalation in the West Asia conflict, particularly around the Strait of Hormuz, which has eased immediate inflation fears. However, analysts caution that geopolitical risks remain, and macroeconomic factors such as firm US bond yields and the potential for prolonged high interest rates are weighing on gold's attractiveness as a non-yielding asset. Despite a net selling of around 30 tonnes of gold in March, central bank purchases, especially from China and Poland, indicate a continued long-term interest in gold. Fund managers recommend a cautious approach to investing in silver, which has seen a significant decline of about 36.3% from its peak in USD. They suggest that investors maintain a balanced asset allocation, with 15-20% in precious metals, while being particularly cautious with silver investments due to its volatility.