Should you buy gold and silver at current rates?:What should be the right price and when to invest – experts explain

Commodity prices in India saw significant corrections due to a multitude of factors of late, from profit booking and Iran war uncertainties to RBI’s gold buying pause, over the past two months. Gold and silver prices dropped 7% and 11%, respectively, since 28 February 2026, the start of Iran war. According to the India Bullion and Jewellers Association (IBJA), 10 grams of 24-carat gold fell by ₹12,000 (7%) to ₹1,47,557 during the period, ending on Tuesday. At the start of the war, 10 gm of 24-carat gold was trading at around ₹1,59,000. Silver prices fell by ₹28,900 to reach ₹2,39,000 per kg on Tuesday. On 27 Feb, it was ₹2,67,900 per kg. Investors who missed out on last year’s rally, may still be indecisive about whether to wait or ramp up investments in the precious metals. Bhaskar English reached out to two commodity experts to find the answers. Gold may fall up to 18% from current levels According to Ajay Kedia, founder of Kedia Advisory, an investment advisory firm, gold prices may fall to ₹1.20 lakh-₹1.25 lakh per 10 gm, this accounts for 18% drop. Similarly, Lovelesh Sharma, co-founder of MarketFeds Analytics, a financial management services firm, anticipates ₹1.27 lakh per 10 gm of gold. So, what should investors do with gold investment? Sharma explains: Silver may fall below ₹2 lakh per kg Kedia said the white metal can fall below the ₹2 lakh mark to ₹1.90 lakh per kg, a viable support zone or “fair price to buy silver” in the longer term. However, Sharma’s outlook on silver is more bearish. According to him, the white metal should correct more as it is still too expensive. Currently, silver is trading at ₹2.39 lakh per kg. Sharma says the rates can fall to as low as ₹1.67 lakh per kg. Kedia explains that gold doubled to ₹1.76 lakh per 10 gm in the last one year before undergoing corrections. The yellow metal prices dropped by almost 16%. On the other hand, silver prices corrected by about 38% from its all-time-high of ₹3.86 lakh per kg. According to Kedia, gold and silver are currently in a consolidation phase or undergoing corrections, which could continue for at least a month. What’s happening with copper? According to Kedia, the following factors can hit the copper demand: Copper price target for 2026 Kedia sees copper in the range of ₹1,300-1,350 per kg by 2026 end. The bullion expert expects the red metal to outperform other metals. Currently, copper is trading at ₹1,285 per kg for 29 May contracts on the Multi-Commodity Exchange (MCX). Kedia believes copper rates can rise by 5%. What is the fair price to buy copper for long term? Kedia sets the fair price at ₹1,150 per kg for the long term. From this level, copper could rally up to 17% to ₹1,350 per kg.
Disclaimer: This story is written for educational purposes only. Investors are advised to consult experts before making any investment decisions.