Gold and Silver Outlook: Bullish for 18-24 Months
Gold and silver prices remain fundamentally strong for the next 18 to 24 months, according to Kishore Narne, Director, Head – Commodity, Motilal Oswal Financial Services. In an interview on the occasion of Diwali, Narne said that most of the fundamental factors that are supporting both gold and silver continue to underpin the rally.
Short-Term Volatility Expected
However, Narne predicted that short-term volatility may lead to a correction in gold prices by Rs 3,000–Rs 4,000, and silver by Rs 5,000–Rs 6,000. He emphasized that this is not a big deal when dealing with a commodity that is trading at around Rs 1,25,000, and that another 3-4% correction is not significant.
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Long-Term Outlook Remains Positive
Narne further emphasized that the long-term outlook remains positive, supported by consistent fundamental factors. On current trends, he suggested that gold is a good buy around Rs 1,20,000 to Rs 1,25,000 levels, even if prices correct slightly. For silver, he sees Rs 1,48,000 to Rs 1,50,000 as a strong entry point.
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Investment Advice
Narne also advised long-term investors not to worry about small price differences, as timing the market is tough, especially with ongoing global uncertainty. He suggested that investors should stay invested and put a percentage of their portfolio into the asset class rather than trying to time the market.
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Conclusion
In conclusion, gold and silver prices are expected to remain strong for the next 18 to 24 months, despite short-term volatility and minor corrections. Investors should stay invested and put a percentage of their portfolio into the asset class rather than trying to time the market.
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