Gold, Silver Prices Set to Rise Amid Festive Demand Boost

Navneet Damani, Head of Research at Motilal Oswal Financial Services, expects gold and silver prices to remain elevated due to strengthening domestic demand during the festive season. The precious metals have been in a consolidation phase but are now moving higher.

According to Damani, the current sideways movement presents an opportunity for medium-term investors to accumulate gold and silver gradually. He believes that gold and silver prices will likely rise further, driven by factors such as elevated oil prices and global uncertainty.

The expert also discussed the impact of the US rate cycle and inflation on precious metal prices. However, he does not provide specific details or figures regarding these factors.