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Expect gold at Rs 51,000, silver at Rs 63,000 soon: Angel Commodities

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Expect gold at Rs 51,000, silver at Rs 63,000 soon: Angel Commodities

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Non-agri commodities are in dilemma because there are so many international cues to watch out right from dollar moves to the US Presidential elections, to the kind of data that China is putting out. Also Europe has concerns about second wave of coronavirus.

Non-agri commodities are in dilemma because there are so many international cues to watch out right from dollar moves to the US Presidential elections, to the kind of data that China is putting out. Also Europe has concerns about second wave of coronavirus.
When asked how to look at gold and silver prices, Prathamesh Mallya of Angel Commodities said, “The kind of events that are mentioned outlines the uncertainty that is lying ahead for asset class commodity. I think uncertainty is the name of the game and as far as uncertainty is concerned, I think gold and silver are two precious metals which would possibly end up being higher.”
“For gold next possible target would be around Rs 51,000 and as far as silver goes, I think Rs 63,000 is coming very soon, very fast. I would be buyer of both these precious metals taking in to consideration the uncertainty that is lined up in the future.”
On silver, he further added, “Silver price should be somewhere around Rs 66,000-67,000. We are just two months now for the end of the year, I think Rs 67,000 is possibly coming very fast.”
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