Gold and silver prices have been on the rise lately, and according to Manoj Kumar Jain of Prithvi Finmart Commodity Research, this trend is likely to continue in the near term. The fundamentals and weakness in the dollar contributed to the bullish momentum in precious metals.
Factors Responsible for Price Fluctuations
The recent spike in gold prices has been guided by a combination of factors, including a weaker dollar, increasing inflation expectations, and a surge in demand for safe-haven assets. The yellow metal has been a popular choice among investors looking to protect their wealth and preserve their purchasing power.
Demand
In addition, the ongoing economic uncertainty and geopolitical tensions have also added to the demand for gold as investors look for a safe haven during times of volatility. The precious metal has long been considered a hedge against inflation and a store of value, and these traits are becoming increasingly relevant in today’s uncertain economic environment.
Strategy
Given the current market conditions, Manoj Kumar Jain suggests a buy-on-dips strategy in precious metals. This means that investors should look to purchase gold and silver when prices dip, as these are likely to be temporary, and prices are expected to recover soon.
While it is impossible to predict the future movements of gold and silver prices, the current market conditions and expert opinion suggest that precious metals will likely remain bullish in the near term. Therefore, investors looking to add gold or silver to their portfolios may consider a buy-on-dips strategy to take benefit of the current market conditions.
Overall, the outlook for gold and silver prices remains positive. However, investors looking to add precious metals to their portfolios should consider the current market conditions and expert opinion when making investment decisions.