Silver created history on 11 July. The silver futures on the Commodity Exchange MCX crossed Rs 1.10 lakh per kg. Prices in the spot market have also reached Rs 1,09,900 per kg. Experts say that prices are rising due to the increase in silver by investors. According to the report by Reuters, silver in the international market rose 0.4 per cent to $ 37.17 an ounce.
Silver supports due to increasing uncertainty in global economy
Rahul Kalantari, VP (Commodities) of Mehta Equality, said, “Investors’ interest in the tariff policy of US President Donald Trump has increased the safe investment options.” In India Silver Prices of the international market depend on its prices. It also affects the exchange rates of dollars and rupees. Buying silver in the rupee becomes expensive when the dollar is strong.
Resistance for silver at Rs 1,10,700
Axid, Vice President of the Indian Bullion and Jewelers Association, Akshant Kamboj said, “The fear of trade tension and tariff has affected investment in the assets considered risky. In such a situation, many investors are preferring to invest in bullion ie gold and silver.” MCX has a support of Rs 1.08 lakh for Silver. It will face resistance at Rs 1,10,700 per kg.
Surprise to include bullion in investment portfolio
Experts say that the demand for bullion increases usually when there is upheaval and uncertainty in the world. Silver is expected to continue in the current environment. Experts say that investors must include bullion in their portfolio. This provides diversification to the portfolio. Experts say that bullion stake in portfolio can be 10–15 per cent. This helps protect the portfolio from damage on a sudden sharp decline in equity.
Also read: Gold Rate Today: Gold open in green mark on the first day of Sawan, know the gold rate of Friday 11 July
Silver can invest through ETF
A big difference between gold and silver is that silver is used in the production of many types of things. It has an industrial demand. Its prices affect industrial demand. Prices climb when the supply is less than the demand. Further silver industrial demand is expected to be strong. Silver can also be invested through silver ETF. Many silver are available in ETF market.