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Published on 23/07/2020 4:11:47 PM | Source: Motilal Oswal Financial Services Ltd

Quote on Gold and SIlver by Navneet Damani, Motilal Oswal

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Below is the Views On Daily Comment on Gold and Silver by Mr. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial

“Over the last few months we have been seen a sustain run up in gold giving over 25% returns for this year and taking the total gains for the last 2 year to over 45%, however given the current macro backdrop of we expect the momentum to continue with and could diver a handsome 30% returns targeting Rs.65000/10 gms over the next 18-24 months. What gives us the confidence is the is the rapidly changing macros backdrop leading to lot of uncertainty, lower interest rates, negative falling bond yields, sustain liquidity push from many central banks and expanded fiscal balance sheets to minimise the impact of Covid-19 related slow down. While this looks like a perfect recipe for Gold, is now spilling over on its counterpart silver, which has seen a sudden surge in prices. After being a laggard for the last few years, silver has seen massive buying interest. Surge in ishare holding, falling mine supply and high physical and industrial demand has been supportive for the prices. We believe that the metals has still some steam left and can add further gains towards Rs.64000 and also towards life time highs over Rs.74000 per kgs in the next couple of quarters.”

 

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