look news india
News India Live, Digital Desk: Till now you and I used to worry only by looking at the price of gold, but this time ‘silver’ has done a feat which has surprised even the biggest experts. Silver prices in the market have reached such a historic level (all-time high), which perhaps no one had even dreamed of.
The gold of the poor is now the hobby of the ‘rich’?
Silver was always called the “poor man’s gold”. But looking at the current situation, it seems that this metal is now becoming beyond the reach of the common man. This tremendous rise in the market has proved that silver is in no way less than gold in terms of investment.
Why did this fire happen?
You must be wondering what happened suddenly? There are two-three big reasons behind this:
- Industrial Demand: Nowadays, a lot of electric vehicles (EVs) and solar panels are being manufactured. Silver is used in all these, due to which its demand has increased a lot across the world.
- Safe Investment: Whenever the stock market wavers or there are tensions (war situations) in the world, big investors invest their money in silver and gold, because it is considered the safest.
Is it possible to touch the figure of 3 lakhs?
Market pundits and analysts are speculating that if this pace continues, then silver may exceed Rs 1 lakh or even many times more in the coming time. There is even talk in the reports that its speed of a long race horse is taking it to a very big magical figure (record level).
What’s your advice?
If you have old silver lying in your house, then be happy, you have become rich just by sitting there. But if you want to make new purchases, it would be wise to wait for the market to cool down a bit. Or, look at it not as jewelry, but as an ‘investment’.
The bottom line is that the market dynamics have changed, and silver is no longer the “cheap metal” it used to be!
