Silver has tumbled down post a huge sharp increase in the margins. With the ongoing fall, in an exclusive interview with CNBC-TV18, experts Rajini Panicker of MF Global Commodities India and Tarang Bhanushali of IIFL analyse on whether the silver story was only a bubble.
Panicker says that silver lacks the basic fundamentals to sustain a huge hike. She says silver will hold support at "around USD 31 a tri ounce to USD 32 tri ounce, which is about Rs 46,000 in the Indian market." However, she says it may see a rebound if broader fundamentals, like interest rates, soverign debt crises and middle-east tension bring in money into precious metals. Comeback cues: Expert sees silver hikes return by year-end Bhanushali stays a net buyer at current levels with a two day perspective. However, he says, "investors with a medium-term view should expect a bounce to around USD 36 levels and then s/he can go short keeping a target of USD 31 per ounce." Below is a verbatim transcript of the expertDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
