We sat down with Naveen Mathur, Director of Commodities and Currencies at Anand Rathi Share and Stock Brokers, to get a clearer picture of where gold and silver are headed and how you can make the most of your money this Diwali.
A Golden Opportunity or a Silver Lining?
Last week, both gold and silver saw significant gains. Gold touched a lifetime high, and silver hit levels not seen in over a decade. Behind these numbers are global events—the ongoing conflicts in the Middle East, uncertainty in the U.S. economy, and concerns about China’s slowdown. All of these factors have made gold and silver even more appealing to investors looking for safety during unpredictable times.
But it’s not just about numbers and graphs. For many of us, investing in gold and silver is about security—both financial and emotional. It’s about buying something tangible that can be passed down through generations, much like the jewelry and heirlooms gifted during Diwali celebrations.
Should You Bet on Gold or Silver This Diwali?
Diwali is a time when families traditionally buy gold, but Mathur suggests that this year, silver might be worth considering as well. “Gold is safer, yes, but silver has been outperforming,” he explains. “If you’re a cautious investor, gold is your best bet. It’s less volatile and more stable. But if you’re willing to take a bit more risk, silver could bring bigger rewards, especially with the global economy looking for recovery measures.”
For those of us not familiar with the complexities of these markets, Mathur recommends a balanced approach. “A mix of gold and silver in your portfolio, especially with options like gold and silver ETFs (Exchange-Traded Funds), can give you the best of both worlds.”
What Can We Expect This Diwali?
As we prepare for Dhanteras, Mathur predicts gold prices could rise to INR 81,000-82,000 per 10 grams, while silver might touch the INR 1,00,000 per kg mark—although this is a strong resistance level. These figures may sound steep, but they reflect the growing demand for precious metals during times of economic uncertainty.”For someone looking to buy gold this Diwali, it’s not just about today’s price. It’s about securing wealth that could grow even more valuable over time, especially with ongoing global issues,” says Mathur.Watch the full interview here (EMBED – https://economictimes.indiatimes.com/markets/etmarkets-live/diwali-dhanteras-spl:-gold-silver-outlook/streamsrecorded/streamid-npnfjjdg66,expertid-111.cms)
Post-Diwali Outlook: What’s Next?
Mathur’s outlook extends beyond Diwali, as global events—such as the U.S. elections and ongoing geopolitical tensions—continue to impact gold and silver prices. He expects gold could rise to $3000 per ounce in international markets if uncertainty persists, with silver possibly hitting $36 per ounce.
However, as we all know, markets are unpredictable. A peaceful resolution in the Middle East or positive economic shifts could reduce the appeal of gold as a safe haven, bringing prices down. But for now, both gold and silver are expected to remain strong.
What Should You Do As An Investor?
Mathur advises, “It’s always smart to include some bullion in your portfolio—around 12-13% is a good balance, especially in volatile times.”
Disclaimer: Recommendations, suggestions, views and opinions given by the experts/brokerages do not represent the views of Economic Times.
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