Gold, Silver & Copper: Metals Make A Comeback, Vandana Bharti Explains

In Business Today's Market Commentary, Shailendra Bhatnagar discusses the volatile mood in precious metals amid sharp corrections and recoveries on MCX. Silver trades ~4% higher at ₹2,80,500 per kg (after falling from ₹4.8 lakh highs to ₹2.3 lakh in speculative shakeout), while gold rises ~5% to ₹1,49,244 per tola (10g equivalent). Guest Vandana Bharti (SMC Global) views the recent plunge as a necessary "reset" due to over-speculation, margin calls, and profit-booking - sharper and quicker than expected. Physical premiums washed out, but demand remains resilient. Gold shows more stability; both metals now in recovery. Fundamentals remain strong (not like lithium/nickel traps) - central banks, crypto/stablecoins, and geopolitical factors drive upside. Advice for investors stuck at ₹3.5-4 lakh in silver ETFs: Hold longer (till Diwali for green zone potential); average on dips (wait for March demand correction, international $78-82, MCX ~₹2.60 lakh). Prefer ETFs for easy entry/exit over physical (premiums apply). Limit to 10-20% portfolio allocation. Outlook: Gold targets $5,400-5,500; silver/industrial metals (copper/aluminum/zinc) strong on deficits, strategic reserves, and demand. Crude needs geopolitics for upside.