Gold may hit Rs 53,000-53,500 by Diwali; silver too will rally: Nirmal Bang

Gold and silver prices are likely to rise sharply over the next one month, Kunal Shah of Nirmal Bang Commodities told CNBC-TV18.

“The investment demand is robust, another stimulus is expected out of US, and India and China retail demand is also back. So, I think gold and silver both are going to rally,” he said.

Shah further added that he expects gold prices to be at Rs 53,000-53,500 (per 10 gm) by Diwali and Rs 54,000 by the end of the year.

He expects silver prices to be at Rs 68,000-69,000 (per kg) by Diwali and Rs 70,000-73,000 by the end of the year.