I am writing after long time. I hope you all are well and doing good as “ Achche Din Aa Gaye Hein”.
This short note is just to inform that this is a good level to buy Silver. Both for Indian investors and international investors.
In India it is trading near Rs 40,900 and in International market it is trading around $19.5.
I asked to exit from Silver in 2011 and since then I was waiting for Silver to bottom out. I think, we are there. As a speciality move, Silver has sometimes given sharp down swing before first leg up and in that process Silver may swing down to 38000 and in worst case 36000 for a day or two.
Nonetheless, I strongly recommend to start buying Silver at this rate. If you have 100 rupees for Silver, you can invest 40-50% at this rate.
Do not relate Silver with Gold this time as Silver has wide industrial use, Gold does not. 54% of total Silver production is used for Industrial use. Therefore, you can understand as economies world across recovering, can increase the use of Silver. Further you do not need the factors like currency devaluation, inflation, Sovereign issues, geopolitical tensions which normally are pre requirement for Gold to rise.
Soon, I will write in detail.
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