Silver MCX Bole Boom Boom, Watch High 75751, Rona Mana Hai Trade With Neal Bhai, — Rising cases of COVID-19 across the world especially in the US has lead analysts to believe that another round of stimulus could be in the offing. The world’s largest economy has already announced a $3 trillion stimulus package, but the Democrats have asked for an addition $400 billion in fiscal measures. The two sides have been negotiating for a week now.
Meanwhile, a blast in Beirut, where several people killed and thousands were injured, also lifted gold sentiment.
Hence, experts expect the rally in gold to continue and feel silver could outshine yellow metal till the global economy shows strong recovery path.
“We continue to be bullish on gold with potential targets between Rs 65,000 to 68,000 per 10 grams and silver expected to reach anywhere between Rs 82,000-88,000 over the next 12-15-month period,” Kishore Narne said.
“We continue to recommend investors to keep a higher allocation towards Gold and use every dip to accumulate the metal,” he added.
Prathamesh Mallya feels unless the global economy starts its recovery path, precious metals will continue to shine for the rest of 2020.
As silver has been shining relatively faster and brighter in comparison to gold in the international as well as domestic markets, prices will eventually move higher towards $27.5 per ounce in the international market and Rs 75,000 per kg in the domestic markets, taking into consideration the recent momentum in the metal.
