Now Reading: Silver crash to ₹2.26 lakh per kilo is buying opportunity, analyst says
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Silver crash to ₹2.26 lakh per kilo is buying opportunity, analyst says
Silver crash to ₹2.26 lakh per kilo is buying opportunity, analyst says
Corrected 30 September 2026: figures aligned with the source.
The Story in Brief
Silver has fallen sharply from ₹2,41,912 to about ₹2,26,000 per kilo, dropping below its 200-day moving average. Navneet Damani, head of commodities research at MOFSL, called the dip a long-term buying opportunity for investors who accumulate near ₹2,10,000 to ₹2,15,000 per kilo, projecting a rebound toward $75, $82, and eventually $90.
Gold also slipped 6% in September to multi-month lows and is testing its 200-day moving average. Damani and analyst Anuj Gupta from Business Today’s livestream advised buying the correction, with a Diwali target of about Rs 1.50 lakh to Rs 1.65 lakh per 10 grams for gold. They said surging industrial demand for copper and aluminium supports silver’s outlook. No contrasting market view or bearish analyst was presented in the coverage.
Update, 1 October 2026: Ajay Kedia of Kedia Advisory, speaking on businesstoday.in on 30 September, attributed gold’s fall to rising crude prices, a stronger dollar and higher US bond yields. Kedia did not endorse a buying opportunity and cited no specific target, offering a contrasting view to Damani’s bullish call.
Update, 1 October 2026: Ajay Kedia of Kedia Advisory, speaking on businesstoday.in on 30 September, attributed gold’s fall to rising crude prices, a stronger dollar and higher US bond yields. Kedia did not endorse a buying opportunity and cited no specific target, offering a contrasting view to Damani’s bullish call.
Indian Opinion Analysis
Both stories share the same analyst source, Navneet Damani, and push a bullish narrative around the silver and gold dip as a buying opportunity, with specific price targets. There is no critical or alternative viewpoint presented: no contrasting analyst, no mention of risk factors such as US dollar strength or Fed rate decisions that typically pressure metals. The coverage reads as a single promotional interview, not as balanced market reporting. A reader seeking the full picture would need a second source that quotes bears or cites macro headwinds. The next concrete reference point is Damani's own projected support level for silver at about ₹2,10,000 to ₹2,15,000, which will test whether his call holds.
Corrected 30 September 2026: figures aligned with the source.
Coverage: 4 sources, 2 neutral, 2 sensationalist
Sources (4): businesstoday.in (sensationalist), businesstoday.in (2) (sensationalist), businesstoday.in (3) (neutral report), livemint.com (neutral report)
This brief was synthesised by AI from the 4 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Updated: this story now draws on 4 sources.
