00:00Let's look at the bullion market. In the beginning, there was a slight correction but now there is a correction
00:09What is your outlook for the short term and long term?
00:13We have heard that whenever there is a geopolitical tension or a pandemic or a global event
00:23there is a buying on safe haven which means buying on gold. For example, when the pandemic was declared in 2020
00:30there was a big correction in the equity market and also in gold and silver
00:35because to cover the loss in equity, the asset class that is making profit, there is selling
00:42If I look at the COVID period, the fall in gold and silver in March-April
00:47and the rise in gold from Rs. 28,000 to Rs. 56,000 in August 2020, there was a big rally
00:54Similarly, if we talk about the bullion today, we saw a duty cut last month
01:03because of that adjustment, there was a big fall in gold and silver in the domestic market
01:07but we did not see a recovery in the prices because the demand in the physical market increased
01:11and now we are seeing that there is an uncertainty in the global and domestic equity market
01:18I think gold should get the benefit but because of yesterday's fall, there could be a severe volatility in the market
01:26due to which there is a bit of panic but in the short term and long term, I think gold should continue to rise
01:32If we talk level wise, I think gold has become a strong base of Rs. 65,000-66,000
01:38We saw a low of Rs. 61,000 in February and now it will become a new base of Rs. 65,000-66,000
01:47On the higher side, I think by the end of the year, due to geopolitical tension, de-dollarization, carry trades
01:55we will see gold recover from 75,000 to 76,000 in April-May
02:02You are saying that gold will have a bull run but I think it will have a tiger run
02:08because as the tension in the middle east is increasing, I think gold will increase even more
02:13How far do you think gold will go by Diwali and what is your target by the end of the year?
02:17Like I was saying, we saw a fall in the duty adjustment in the domestic market
02:23but the geopolitical tension is increasing in the international market
02:27China and India are also having an impact due to the inflation
02:32The geopolitical tension is increasing, the central bank is buying and there is inflation
02:37If we talk about the year end, I think we will be able to cross the 74-75 zone easily
02:46We might see a new high this year
02:50What is your target for Diwali?
02:54The volatility is high and the rate cut in September, we know that in October only we will have Dhanteras and Diwali
03:02I think if the rate cut comes in September, we will be able to cross the 74,000 level easily
03:10Volatility is severe, don't worry about it
03:13As we do SIP in equity, we put some money every month
03:17For long term investors, do GIP, like we do monthly investment
03:23Put some money in gold every month and we will be able to cross the 74-75 zone by the end of the year
