00:00Sir, since the Union Budget was introduced on 1st February 2025,
00:05a trade war has started at a global level.
00:08Be it from Canada's side, China's side, Mexico's side,
00:12even India has not been untouched.
00:15So, what is the impact of this trade war on gold?
00:19Since the US President took over power in his second term,
00:23he has been showing aggression.
00:25And as soon as he came, he started imposing tariffs on all countries.
00:29In fact, he imposed tariffs on Canada, Mexico, China, India and other European countries.
00:37And here, he is talking about reciprocal tariffs since April.
00:41So, as soon as tariffs started, we are seeing that the US equity market,
00:45which was operating at a lifetime high,
00:48we have seen a continuous decline since the last 2-3 sessions.
00:53So, we believe that due to US trade tariffs,
00:56the global uncertainty is being created.
01:00So, in such a case, gold and silver will continue to shine as a safe investment in the future.
01:07And if reciprocal tariffs are introduced here,
01:10as the US President has been continuously saying in his statements,
01:14then there will definitely be more decline in the US equity market.
01:19There can be more weakness in the dollar index.
01:23And the benefits of that will be visible to gold and silver.
01:27Sir, one thing is clear to us.
01:29Because there is uncertainty at the global level.
01:31And gold is a safe haven.
01:33Due to this, its demand increases and its prices start increasing.
01:37Now, sir, let's look at one side.
01:39I would like to understand a relation with you.
01:41We are seeing that the share market is continuously declining since September.
01:46Apart from this, when Trump took over power,
01:50Bitcoin made its all-time high of around 1 lakh dollars.
01:54But after that, if we look at 30%,
01:57if I talk about the figures of 11th March,
01:59the decline of 30% has come in our cryptocurrency, Bitcoin.
02:04The share market is declining.
02:06Bitcoin, which is a cryptocurrency, is declining.
02:09But on the other hand, what you are saying,
02:11the gold will continue to shine somewhere.
02:14So, I would like to understand this whole relation with you.
02:18I would like to understand the outlook of gold from you.
02:20What can happen in the coming time?
02:22Are you able to see the range in the near future of gold and silver?
02:27Look, Bhavna ji, here we saw,
02:29when we were seeing that
02:31here the US equity market was growing,
02:35the dollar index was continuously strong.
02:37Bitcoin, that is, all the cryptocurrencies were also growing there.
02:42But since the US has been talking about trade tariffs,
02:47after that we are seeing that the dollar denominated assets,
02:50whether it is the US share market,
02:53or the dollar index, or the crypto,
02:56now we are seeing Bitcoin there.
02:59So, we believe that in the coming time,
03:01as this environment of uncertainty will be created,
03:04and the US is constantly talking about tariffing on all countries,
03:09because of that, the trade will gradually shift from dollars to other currencies.
03:16So, in this case, the dollar denominated assets,
03:18whether it is the US share market, or the dollar index, or the crypto,
03:22there can be pressure,
03:25and its benefit will be seen to be gold and silver.
03:28And, in fact, we are seeing this while being reflected.
03:31The ETF data issued in February,
03:36there we have seen that the gold ETF investment
03:39has reached a high level of 34 months.
03:43So, not only in India, but also globally,
03:46investors are moving from risky assets to safe havens.
03:50And, in this case, if the uncertainty increases due to the war,
03:54then definitely its benefit will be seen to be gold and silver.
03:58As far as the range is concerned,
04:00for the entire year, when we showed you the gold range in the beginning,
04:05we had given $3,000 in international markets and $90,000 in Indian markets.
04:11We still have that view.
04:13After reaching that level, we will review the fundamentals
04:17and share the updates with you.
04:21As far as silver is concerned,
04:23we believe that along with investment,
04:25the industrial demand for silver is also better.
04:27So, due to this, silver can go from $38,000 to $40,000 in international markets
04:32and from $1,14,000 to $1,20,000 in Indian markets.
04:37The downside is limited in both gold and silver.
04:41The maximum downside in gold is $2,680 in international markets
04:47and $80,000 in Indian markets.
04:51As far as silver is concerned,
04:53we believe that $28.50 will be a good support for silver
04:59and the maximum downside is $88,000.
05:05So, the downside is limited in both gold and silver.
05:08But due to global uncertainties,
05:10the upside seems to be better here,
05:15whether it is gold or silver.
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