Silver or gold: Which bullion should you buy today?

Prashanth Tapse, Senior VP and Research Analyst at Mehta Equities on Wednesday said he prefers silver to gold. In an interview to Business Today, Tapse said there is a mismatch in demand and supply and the demand is too high, which cannot be supplied immediately. Gold, he said, is in focus due to geopolitical tensions, adding gold is hitting new highs.

"Silver, I am expecting, there is a breakout above $82 and I think today's closing will be the most important. I think that silver move towards $88 and $92 levels going forward," Tapse told Business Today.

"I think silver will sustain the rally but gold also has decent neutral-to-positive outlook for this financial year," he added.

Tapse said the metals overall will continue to make good strides this calendar year as well as the financial year, but overall the focus would be more on geopolitical tensions.

"As soon as that gets cooled off, then only there would be some kind of profit booking attempt in these two metal counters," he said.

Tapse said silver will continue to see some kind of good opportunities, saying the breakout of today's close will be the most important indicator on technical charts.

" I think 82 plus closing can create another $8 to $10 dollars momentum very fast, so $90 to $100 can be a target for this next one or two months," he said.