Silver prices are at record highs, and investor interest is surging. But with the metal rallying far beyond expectations, the key question facing investors now is whether to buy immediately or wait for a correction.
Experts are divided on timing, even as they broadly agree on silver’s strong long-term fundamentals.
Market expert Avinash Gorakshakar believes investors should resist the temptation to chase silver at current levels.
“When everybody starts buying the same commodity at elevated levels, then something is wrong,” Gorakshakar said, pointing out that silver has crossed levels that even technical analysts did not anticipate.
While he remains confident about silver’s long-term demand outlook, he warns that the near term could see profit booking. According to him, silver’s fundamentals remain strong for the next two to three years, but short-term corrections are very much possible.
“There will be people who book profits. At these levels, even if you want to buy silver ETFs or take direct exposure, it makes sense to wait,” he said.
Gorakshakar expects a correction of around 10 percent or possibly more, which could offer a better entry point. “We are advising clients not to buy immediately. A reasonable correction could happen, and that would be a better time for long-term investors to enter,” he added.
On the other side, technical indicators continue tosupport silver’s broader uptrend.
Ponmudi R, CEO of Enrich Money, says silver continues to dominate the precious metals space and has clearly outperformed gold in this cycle. COMEX silver has recently posted fresh all-time highs near $82.67 and is currently trading around the $80 per ounce zone.
“The rally is being driven by a strong mix of safe haven demand, accelerating industrial usage and persistent structural supply deficits,” Ponmudi said.
According to him, the bullish structure remains intact, with any corrections so far remaining brief and controlled. On the upside, he sees potential targets in the $84 to $87 range, while strong support lies between $75 and $72.
Ponmudi believes silver is on track for one of its strongest annual performances in decades.
In the domestic market, MCX silver futures are hovering near record levels around Rs 2,54,000.
Ponmudi says the long-term bullish framework remains valid as long as prices hold above Rs 2,50,000. Any deeper corrective move is likely to find support in the Rs 2,40,000 to Rs 2,35,000 zone.
“A decisive breakout above Rs 2,55,000 could trigger the next leg of the rally, targeting Rs 2,60,000 to Rs 2,75,000 over the medium term,” he said, adding that the trend continues to favour accumulation on dips rather than aggressive buying at peaks.
The takeaway from experts is fairly clear. Silver’s long-term outlook remains strong, supported by rising industrial demand, tight supply, and its dual role as a precious and industrial metal.
However, after a sharp and extended rally, timing matters.
For short-term investors, chasing silver at record highs carries risk. For long-term investors, patience may pay off. A correction, if it comes, could offer a more attractive entry point without compromising the broader bullish outlook.
For now, silver remains a metal to watch closely, but experts advise that waiting for better prices could be the wiser move than rushing in at elevated levels.
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