Gold prices in India could see further downside before the next major rally, according to Navneet Damani, Senior Group Vice President – Head Research at MOFSL. He believes domestic gold prices may correct to the ₹1.30–1.32 lakh per 10 grams range, creating an attractive buying opportunity for long-term investors. Damani recommends allocating 10–15% of one’s portfolio to gold and silver in a staggered manner instead of investing all at once. Despite near-term volatility, he remains optimistic that gold could climb back toward ₹1.80 lakh and even touch ₹2 lakh over the next 12–24 months.
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