00:00Apart from gold and silver, if we focus on the currency market, then the topic of discussion is also about Rupee, which is hitting a record low, at the moment it is around 84.40, which is the all-time low.
00:16So what are you seeing, what is the factor that is making pressure on Rupee?
00:22Around 84, we saw USDNR trading for a long time, it came down to 83.7.
00:30Although the volume and trading activity has definitely decreased, but with the dollar index, we are seeing USDNR in a very good way.
00:41I think the current rally is with the dollar index. The more the dollar index increases, the more we will see an increase in USDNR.
00:49But along with that, the discussion on RBI's rate cut is going on.
00:55I think the next RBI meeting will also have a delay in the rate cut.
01:02RBI should definitely pause, because the CPI number that we saw this time, the inflation number of India, has increased again.
01:10So the less the expected rate cut is, the more questions will arise about growth.
01:15It is not good for the domestic front either.
01:18The more the fluctuation in domestic equities, the more questions will arise about the domestic currency, Rupee.
01:25So both these factors are indicating a fast for USDNR for now.
01:30So I think with a sideways to higher bias, we can definitely take a bet in USDNR.
01:35So, the first week of RBI's MPC meeting is in December.
01:42Can we see any special commentary from the governor on this fall in Rupee?
01:50Can there be any intervention from the RBI?
01:54I think there can be some commentary on the recent increase in volatility.
02:00But I will focus more on inflation and growth forecast.
02:06Because these two factors will tell the rate decisions in the future.
02:12Because it still seems that the rate cut may not happen.
02:15But all the other countries have started the rate cut.
02:18India is still trying to maintain a balance between growth and inflation.
02:23So, if growth deteriorates and inflation increases, then it will be important to see that balance in the RBI's commentary.
02:31So, as Mr. Modi is saying, in the long-term scenario, gold and silver are both in a fast trend.
02:39If we talk about gold, it can reach the level of Rs. 81000 by the end of next year.
02:45And silver can also reach the level of Rs. 125000.
02:50So, the long-term scenario is bullish.
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