Kunal Shah of Nirmal Bang Commodities said, silver prices may go up to Rs 70,000-73,000 per kg by the end of this year
Gold and silver prices are expected to go up next month. Kunal Shah of Nirmal Bang Commodities said in a conversation with CNBC-TV18 that gold prices will pick up in the coming days.
He said, “Investment in gold is increasing. There is hope of getting another relief package in the US. Also demand has increased in India and China. Because of all this I think another rally in gold and silver Can come. ”
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Kunal Shah further said that according to his estimates, by Diwali this year, the gold price can go up to Rs 53,000-53,500. Gold is expected to go up to Rs 54,000 per 10 grams by the end of this year.
Regarding silver prices, he estimates that by Diwali, its price can go up to Rs 68,000-69,000 per kg. At the same time, there is a possibility of silver prices going up to Rs 70,000-73,000 per kg by the end of the year. Along with this, Shah is also very bullish on the agricultural commodity.
What is going on today
Taking a cue from the international market, the Indian market today also had weakness in gold and silver price. December Gold Future prices are down 0.2 per cent at Rs 50,584 per 10 grams on MCX. While Silver Future is trading down 0.35 per cent at Rs 61,882 per kg. Prior to this, the gold price rose 0.24 percent and silver rose 0.6 percent in the session. In August, the gold price in India touched a record high of Rs 56200 per 10 grams.
