Mumbai: According to a report on Saturday, silver may outperform or outperform gold in the medium to long term and rise to Rs 1,25,000 per kg on MCX and $40 per kg on COMEX in the next 12 to 15 months. There is a possibility of reaching. Silver has performed impressively recently, rising by over 40 per cent (y-o-y) and crossing the Rs 100,000-mark on the domestic front, according to Motilal Oswal Financial Services Ltd (MOFSL) report. This is due to safe investment and strong industrial demand.
MOFSL has also set a target for gold at Rs 81,000 in the medium term and Rs 86,000 in the long term. It expects gold on COMEX to reach $2,830 in the medium term and $3,000 in the long term. Manav Modi, Commodity Research Analyst, Motilal Oswal Financial Services, said, “Market uncertainties, expectations of a rate cut in 2024, rising demand and a depreciating rupee have led to a significant rise in prices. will be important in determining the near-term direction of The two main factors behind this year's rally in precious metals are expectations of a rate cut from the Federal Reserve and rising geopolitical tensions, especially in the Middle East. “Overall, the sentiment for this Diwali is expected to be positive, which will increase optimism for bullion,” Modi said.
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