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Gold and silver are now essential for portfolios, says market expert

Metals are once again taking centre stage in market conversations, driven by global uncertainty and changing investment behaviour. Market expert Sharmila Joshi believes the current focus on metals goes beyond routine price movements and reflects deeper global trends.

“Metals are where the focus is right now,” Joshi says, adding that while some link the rally to a weakening rupee, the usual level of foreign institutional investor participation has been missing. “We haven’t seen FII participation like we did in the past. Geopolitical situations are such that metals are naturally drawing attention,” she explains.

Joshi admits her own investment advice has evolved with the times. “Earlier, I never used to advise investors to invest in gold or silver ETFs, but now the situation has changed,” she says. Today, when investors ask how to begin building a portfolio, her answer is clear. “I now tell them to include a gold ETF and a silver ETF. The signs were there for a couple of years that metals would play a big role, but nobody expected this kind of blow-out.”

On silver touching record highs, Joshi urges caution. “It’s too early to say whether this is a peak, but let me be honest, you can’t have a portfolio today without exposure to gold or silver,” she says. She also notes that year-end negotiations among global players often push prices higher.

Beyond metals, Joshi points to Reliance Industries as a large-cap stock that has delivered solid returns over the past year. She also remains positive on defence stocks, saying their order books are strong. “Valuations are fancy, but this is not a sector you can ignore going forward,” she adds.

(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)

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