Gold, Silver Extend Stunning New Year Rally Amid Global Uncertainty | Market Commentary
Business Today TV's commodities segment highlights an explosive rally in metals, with silver surging 51% in January to a record $118 on COMEX - fueled by relentless buying, China's export restrictions on silver (55-60% of global refining), tight Shanghai inventories, and geopolitical uncertainty from US tariffs, Greenland tensions, and Iran issues driving safe-haven demand. Kunal Shah, Head of Commodity Research, Nirmal Bang, cautions that silver is in euphoria with gold offering better risk-reward at current gold-silver ratio of 45. He remains bullish on fundamentals across precious and base metals, naming copper as the top high-conviction play (targeting $15,000 LME / ₹1500 in India, +20% upside). Crude oil is poised for 10-15% short-term gains amid geopolitical premiums and declining US production. Physical silver trades at ₹15,000 discount to MCX amid market chaos.
Business Today TV's commodities segment highlights an explosive rally in metals, with silver surging 51% in January to a record $118 on COMEX - fueled by relentless buying, China's export restrictions on silver (55-60% of global refining), tight Shanghai inventories, and geopolitical uncertainty from US tariffs, Greenland tensions, and Iran issues driving safe-haven demand. Kunal Shah, Head of Commodity Research, Nirmal Bang, cautions that silver is in euphoria with gold offering better risk-reward at current gold-silver ratio of 45. He remains bullish on fundamentals across precious and base metals, naming copper as the top high-conviction play (targeting $15,000 LME / ₹1500 in India, +20% upside). Crude oil is poised for 10-15% short-term gains amid geopolitical premiums and declining US production. Physical silver trades at ₹15,000 discount to MCX amid market chaos.
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