New Delhi, June 7 -- Emkay Wealth Management said it remains positive on gold and silver over the medium to long-term, saying the precious metals remain supported by macroeconomic uncertainty, continued gold purchase by the central bank and steady investor demand, despite recent bouts of volatility.

In a report published on Wednesday, the wealth manager said that gold briefly crossed the $5,000-an-ounce mark earlier this year and is currently trading at around $4,500 an ounce, while silver has rebounded from around $72 to about $77 an ounce, reflecting strong demand despite short-term corrections.

It also highlighted that the current rally in gold and silver is being driven by long-term investor demand rather than short-term speculation...