'You should always maintain an allocation to gold as it has the ability to counterbalance any correction in the equity market.'
Silver has been quoting at a premium in India since mid-March because of huge scarcity.
Any shift in investor sentiment may result in speculators fleeing the gold market, driving its price down sharply, quickly. One significant risk for gold is a near-term reversal in the dollar, which recently fell to a two-year low.
Following the outbreak, Iran has stopped Indian basmati shipments. This has led to exports already falling 18-20 per cent this fiscal year. Iran and the rest of West Asia account for the largest imports of Indian basmati, and comprise more than 30 per cent of the shipments.
The all-time high price of silver is Rs 75,000 a kg, recorded in April 2011.
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