Below is the Views On Gold and Silver commentary by Mr. Kishore Narne, Head - Commodity & Currency, Motilal Oswal Financial Services.
“Gold and Silver have been best performing assets so far this year with 40% and 50% returns respectively so far this year. With aggressive stance of central banks to push unprecedented amounts of liquidity and keep interest rates lower coupled with reignited trade-war concerns and rising Covid-19 infections and a threat of second wave infections providing a significant hindrance to global economic growth along with lingering Geo-political uncertainty provides a convincing fundamental backdrop for continuation up-trend in both precious metals. Slowing jewellery demand is more than replaced by investor demand in to ETFs as well as coin and bar sales. We continue to be bullish on Gold with potential targets between ₹65,000 to 68,000 /10gms and Silver expected to reach anywhere between ₹82,000-88,000 over the next 12-15 month period, we continue to recommend investors to keep a higher allocation towards Gold and use every dip to accumulate the metal.”
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