Home / Markets / Commodities /  Gold expected to reach $2,000 in next 12-15 months: MOFSL
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NEW DELHI : Gold could touch $2,000 (about 148,854) over the next 12–15 months and any price correction could be used as an opportunity to buy the yellow metal, said Navneet Damani, vice-president-commodity and currency research, Motilal Oswal Financial Services.

In the short-term, gold is expected to touch about $1,915 this quarter, followed by $1,965, with a meaningful base of about $1,800 and $1,745 zone.

Gold began 2021 with buzz over vaccine reports from major pharma companies, the tiff between US President Biden and former President Trump, stimulus packages by governments and lower interest rate scenario, which kept the precious metal at lower price levels. Damani said 2020 was a notable year for gold with a return of about 25% in Comex Gold.

“When the pandemic arose, we were preparing ourselves against the unknown, hence aggressive measures such as shutting down economies, loose monetary policies and other steps were taken to combat the impact of virus. Now, though, we have information regarding the virus, its variants, necessary infrastructure and vaccinations to fight them. Even though we are seeing a surge in cases, there may not be a complete lockdown like we witnessed in 2020 but some restrictions to curb the impact could be seen," Damani said

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