Is It Time to Enter Gold and Silver? Motilal Oswal Explains 

Synopsis: Motilal Oswal Financial Services advises a buy on dips strategy for gold and silver, citing volatile yet positive 2026 trends, strong investment demand via ETFs, and a constructive long-term outlook despite short-term consolidation and macroeconomic headwinds. 

Gold is currently trading at Rs. 1,53,242 per 10 grams, declining from its previous close of Rs. 1,54,609. On a kilogram basis, silver price stand at Rs. 2,52,230, down from the earlier close of Rs. 2,57,142, reflecting a noticeable drop. 

Market Performance in 2026

So far this year, gold has surged by approximately 10%, while silver has gained about 5%. Rather than a steady climb, prices have moved in a “zig-zag” pattern. This uneven uptrend is largely attributed to a complex mix of global factors, including persistent geopolitical tensions, concerns over slowing global economic growth, and fluctuating expectations regarding US monetary policy. These elements have collectively bolstered the demand for safe-haven assets.

Shifting Investment Trends

While high prices have led to subdued physical demand for gold and silver in India, investment interest remains resilient. There is a noticeable transition toward financial instruments over traditional physical buying. 

Investors are increasingly utilizing Exchange-Traded Funds (ETFs) and exchange-traded derivatives to gain exposure to the metals. This shift suggests a more strategic, portfolio-based approach to bullion as opposed to purely ornamental or physical accumulation.

Recommended Investment Strategy

Motilal Oswal suggests a “buy on dips” strategy rather than chasing prices during peaks. The brokerage anticipates a period of near-term consolidation following the recent rally. 

While factors like a strong US dollar, high bond yields, and inflation may present temporary headwinds, the medium-to-long-term outlook remains constructive. The potential for monetary easing later in the year and high global debt levels are expected to continue supporting bullion prices.

Long-Term Outlook

Historically, gold has proven to be a reliable asset for steady long-term returns. The firm emphasises that periodic price corrections should be viewed as opportunities for accumulation rather than signals to exit the market. By maintaining a gradual accumulation strategy, investors can navigate current volatility while positioning themselves for the broader constructive trend expected for the remainder of 2026.

In conclusion, Motilal Oswal Financial Services maintains a cautiously optimistic outlook on gold and silver in 2026, recommending investors avoid chasing rallies and instead accumulate on price dips. 

Despite short-term volatility driven by macroeconomic factors, strong investment demand especially through ETFs and supportive long-term fundamentals like potential monetary easing and high global debt levels, reinforce bullion’s appeal as a strategic portfolio asset. 

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