Quote on the recent rally in precious metals by Satish Dondapati - Fund Manager - ETF at Kotak Asset Management Company Ltd
Below the Quote on the recent rally in precious metals by Satish Dondapati - Fund Manager - ETF at Kotak Asset Management Company Ltd
“Today, Silver and Gold futures rose by 5.25% and 1.75% respectively, crossing Rs 3,00,000 per kg and Rs 1,45,000 per 10 grams on the MCX marking fresh all-time highs.
The rally is mainly attributed to strong global geopolitical uncertainty, supply-side concerns, a weakening US dollar, and robust industrial as well as investment demand. Additionally, precious metals received price support at higher levels due to the sudden imposition of tariffs by the US on few European nations, following recent developments related to the Greenland issue.
Over the past one year, silver prices have surged by more than 170%, while gold has gained over 70%. Both metals are widely regarded as safe-haven investments, and silver being an industrial metal as well has an added advantage in the current macroeconomic scenario.”
Above views are of the author and not of the website kindly read disclaimer
