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Silver Price Hike: Silver's shine may increase further in the coming days. Soon the price of silver may cross Rs 1 lakh to Rs 1.25 lakh per kg. Motilal Oswal Financial Services has made a big prediction about silver prices in its report. In its report, the brokerage house has advised investors to buy silver when the prices fall.
One and a quarter lakh rupees Silver will go till then!
Motilal Oswal Financial Services has issued a quarterly report on silver and advised investors to buy silver on dips. In the report, the brokerage house has revised its old target price on silver prices. Motilal Oswal has increased its old target price on silver from Rs 1 lakh to Rs 1,25,000 per kg, while Comex has given a target of $ 40 per ounce. In the report, the brokerage house said that this target can be achieved in 12 to 15 months.
Advice to buy silver on dips
According to a research note by the brokerage house, silver prices have seen a jump of 30 per cent in recent months, which may lead to profit booking at some intervals. However, any future decline in silver should be used as a buying opportunity. The brokerage house said that Rs 86,000-86,500 is the key support level for silver.
Why will prices increase ,
The report said that silver has come out of the slow-moving tag and has seen a sharp rise in prices this year. Silver is on the verge of winning the race between gold and silver. Investors are waiting for the Fed's decision to cut interest rates. Metals are getting support from weak economic data in the US. There is a possibility of a 70 percent cut in interest rates in the September Fed meeting. So global tensions are also causing shocks. Domestic imports of silver have increased to 4000 tonnes in 2024. Flows in ETFs are normal but people are buying indiscriminately. The Silver Institute believes that the supply of silver may be less than the demand. And with economic growth in China accelerating, demand for industrial metals increasing, silver prices may rise.