In this Diwali, gold is going to glitter but on the other hand, it has been claimed that base metals are going to struggle in the Samvat 2080. This statement has been recently claimed by Jigar Trivedi of Reliance Securities. He has a belief that the fundamentals for precious metals such as silver and gold are positive where the demand concerns might loom over the base metals. Jiger Trivedi is a well-known personality. He is the Senior Research Analyst – Currencies and Commodities at Reliance Securities. This article is mainly focused on Samvat 2080, so to learn everything, read this article carefully till the end and do not miss anything if you want to learn everything.
According to Jigar Trivedi, now the prices of gold are going to rally but on the other side, the prices of silver might continue to outperform the yellow metal in the new Samvat year 2080. He believes that the fundamentals for precious metals like silver and gold are positive and the demand might loom over the base metals. In Diwali 2023, gold prices have given more than 20% returns. So the fundamental background is very supportive of the strong rally in the yellow metal. So it is being assumed that the prices of gold might stay higher and the dollar may weaken in the first half of the next year so the main outlook is positive.
According to the source now Indian buyers seem to be reluctant so they can purchase the gold at a very high price. The prices are very high in India right now and the footfall in the jewelry shops has fallen if we compare it to the last year. It is expected that the last-minute festival time might see the demand but because of the high prices, many buyers are reluctant to purchase. Continue reading.
Reports have shown that the price of silver has completely outperformed the yellow metal. There is a major positive rise in the industrial demand. And the use of 5G technology, electric vehicles, and green energy is mightily going to drive the market up. China is currently struggling with the economic downturn so it is expected the recovery in manufacturing activity will be in H2 of 2024. So maybe the silver might outperform in the next year like this year. And this time digital gold investments such as Sovereign Gold Bonds and Gold Exchange-traded Funds are seeing growth.