Like gold, silver is also becoming the choice of investors. It is called “the gold of the poor man”, but after the recent rise, its shine has increased further. According to Kayanat Chanwala, Associate Vice President of Commodity Research in Kotak Securities, if the current speed persists, the price of Comax Silver can reach $ 40 an ounce.
Silver prices are also on a boom in the Indian market. Silver rates on MCX are expected to reach Rs 1,25,000 per kg in the next three to four months. The expectation of interest rate cuts, China’s increasing demand and improvement in industrial sector may be better than gold.
Why are silver prices increasing?
Impact of gold rapid impact – Gold has recently crossed the level of $ 3,000 an ounce, which has also supported silver.
Better returns – Silver has given 15% return in the first three months, which is better than the share and bond market.
Great performance in the last 5 years –
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Silver Return: 178%
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Gold Return: 106%
Increase in industrial demand – Electric vehicles, renewable energy and increasing silver demand in technical industry are raising its prices.
Can silver overtake gold?
Currently silver is away from its record level of its $ 50 an ounce in 2011 and is trading around $ 34 an ounce. But according to experts, there is scope for further speed.
Silver prices are more unstable, as it is mainly used in industrial areas, while gold is more stable due to investment and central bank purchases.
Is it right to invest in silver?
Investments can be made through futures contracts, ETF and mutual funds.
The possibility of large profits, but the ability to bear volatility is necessary.
Do not invest indiscriminately, but adopt a long -term strategy.
