New Delhi, Feb. 6 -- Harshal Dasani, Business Head at INVasset PMS, said that the current gyrations in gold and silver signal that we are near intermediate bottoms, and not cycle tops. His conviction on the precious metals stems from fundamentally-driven factors like central bank buying, suppressed real interest rates and the industrial demand for silver.

Despite the sharp drawdowns seen in gold and silver rates since the end of January, Dasani expects gold prices to touch $6,000 by Dec-end and silver to scale $150 peak. Edited excerpts:

The recent rebound in gold and silver should not be read through the lens of a "dead-cat bounce." The sharp fall preceding it was not driven by a deterioration in fundamentals but by a classic liquidity...