Gold, Silver Outlook Bullish For 18–24 Months: Motilal Oswal’s Kishore Narne

Gold and silver prices remain fundamentally strong for the next 18 to 24 months. However, short-term volatility and minor corrections are likely due to the recent sharp rally, Kishore Narne, Director, Head – Commodity, Motilal Oswal Financial Services, told NDTV Profit on Monday, Oct. 20.

During an interview on the occasion of Diwali, Narne said, “I think fundamentally if you’re looking at the next 18 months, or 24 months, the scenario has not changed much. Most of the fundamental factors which are supporting both gold and silver continue to underpin the rally.”

However, he predicted that short-term volatility may lead to a correction in gold prices by Rs 3,000–Rs 4,000, and silver by Rs 5,000–Rs 6,000. 

“It’s not a big deal when you are dealing with a commodity that is trading at around Rs 1,25,000. So, another 3-4% is not a big deal. For silver again, I think Rs 5,000 to Rs 6,000 further corrections could be possible. But again, this is a short-term noise…,” Narne said.

He further emphasised that the long-term outlook remains positive, supported by consistent fundamental factors. On current trends, he suggested that gold is a good buy around Rs 1,20,000 to Rs 1,25,000 levels, even if prices correct slightly. For silver, he sees Rs 1,48,000 to Rs 1,50,000 as a strong entry point.