Silver Is The New Gold: Here Is Why You Should Invest In Silver This Festive Season
All-time high gold and silver prices have become regular front-page headlines in the newspapers of late. The festive season is here and many people in India are planning to invest in bullion as per ritual. Most people in India prefer to buy gold in the festive season but this year, after touching a record high Rs. 77,840 per kilogram level, silver has become investors’ favourite. It is a far cheaper investment option than gold which stands at around Rs. 51,85,420 per kg. The appreciation investors are getting in silver is huge. For example, as reported by Mint, in the month of July silver prices jumped over 6% just in a single day. Within a short span of 3 days, the price of silver rose by Rs. 8500 per kg. This is the reason why investors are attracted to silver investment this festive season. Experts believe that from the return on investment perspective, the white metal will outperform gold in the coming times. This festive season has literally brought shine and silver investment demand has surged by 30% due to lucrative returns on investment.

Bullion experts believe that silver is quite undervalued and that is a strong indication that it will outperform gold soon. If you are planning for a medium or long-term investment, it is the right time to invest in silver. Due to COVID-19 crisis, the US dollar has recently weakened significantly. European market stands at a record low. Apart from that, geopolitical tension between two giants of Asia- India and China have stirred the global economy. All these reasons have contributed to the increasing price of precious metals like gold and silver. In a currently prevailing low rate environment, investing in bullions is a good way of earning an attractive return. One option is to buy silver jewellery online. You can also buy silver bars, coins, medallions and jewellery.

It has been observed that due to the price hike, retail demand has dampened. However, the market has witnessed constantly increasing investment demand. The festive season will further bring attractive discounts on silver jewellery online shopping which is likely to attract more buyers. Experts believe that gold and silver rates are likely to climb despite minor fluctuations. As per an estimate, the gold price is likely to hit Rs. 65,000 and silver Rs. 90,000 level by Diwali. However, analysts believe that cues from the global economy will affect the rates of precious metals. US-China ties and trade talks too will play a crucial role in deciding the price of gold and silver in the coming days.

It is worth mentioning that silver is popular as an asset in rural areas and tier 2 and 3 cities of India. People - for whom gold has always been out of reach- like to invest in the white metal. This is the prime reason why jewellers have also stocked silver coins and bars for the festive season. This year, with gold prices soaring higher and higher, jewellers expect that the demand for silver will increase. Not only this, even at wedding functions silver is slowly replacing gold jewellery. In the global markets, handcrafted silver jewellery is in huge demand and it is increasing with each passing day. This is a strong reason why you should opt for silver jewellery online shopping this festive season.

The tense geopolitical situation, persistent economic slowdown, financial crisis across the globe and several countries caught in debt trap may lead to a crisis in the coming times. In such a situation, it is wise to safeguard your wealth by investing in precious metals. Investment in silver will help you to hedge your other investments and even if the stock market or real estate market witnessed a downfall, your money will be safe.

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