New Delhi, Oct. 18 -- Prices of the precious metals saw sharp correction on October 17, following a record rally that took Silver to record highs during the festive season this year.

Price of gold was down 3 per cent, while silver slid more than 8 per cent at close time, due to profit-booking and amid signs of easing trade tensions between the United States and China, ANI reported.

However, despite the correction, market experts feel that gold and silver still hold safe haven appeal for risk averse investors looking to safeguard their portfolios in a volatile market.

Markets expert Ajay Bagga described the price fall on October 17 as a "necessary tactical retreat" driven by short-term sentiment shifts and natural profit-taking after a ...