Chanchal Agarwal, CIO at Equirus Family Office, has cautioned investors about rising valuations in precious metals, suggesting that it may be a good time to book some profits.
Agarwal noted that while metals like gold and silver have benefited from global uncertainty and safe-haven demand, the current valuation levels appear stretched, signaling limited upside in the near term.
He added that India’s macro environment remains supportive, with expansionary fiscal and monetary policies likely to accelerate nominal GDP growth—a key driver for corporate earnings. However, he emphasized that the precious metals rally is more sentiment-driven than fundamentals-driven at present.
Investors are advised to balance portfolio exposure, taking advantage of recent gains in metals while remaining mindful of profit-booking opportunities and broader market conditions.
