![]() In this case, the same principle of demand and supply is applicable. ![]() Silver jewelry along with gold is purchased in large quantities for the purpose of gifting to the bride and relatives. Wedding Seasonĭuring the wedding season in India that is governed by the traditional almanac, the prices of silver tend to increase because of higher-than-usual demand. This causes fluctuations in the price of silver in accordance with the phenomena of demand and supply. During festive occasions like Diwali and Akshay Tritiya, the sale of silver and gold increases by 35%, as it is considered auspicious to purchase silver and gold. There are specific times in India when the silver prices rise, and this mainly depends on the religious calendar of the majority population of people who follow the Hindu faith. The following are the factors impacting silver prices in India: Festivals The most important reason for the increase in silver prices is the phenomenon of demand and supply, as the need for a particular thing increases in the market the price also increases because of a limited supply. Silver Rates Today In Major Indian Citiesįactors That Can Influence Silver Prices in India Silver Price Today Per Gram/Kg in India (INR) Here are factors that impact the silver trade and ways in which you can invest in silver. Indians have always fancied silver and India is a big market for it, and now with the use of silver in modern machines such as solar panels, silver has taken the center stage once again. Most raw silver is imported from other countries and then finished goods are imported to other countries. India has silver mines and is ranked 14th among silver producing countries. It has still retained its intrinsic value and can be considered an important metal in international trade. Humans have refined silver much before they extracted iron from iron ore. All readers are encouraged to perform their own due diligence.Silver has been a standard metal for trade globally like gold since the bronze age. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.Įditorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. "So if gold does rise, silver is going to follow it."ĭon’t forget to follow us for real-time updates! We've seen this repeatedly throughout history," noted Jeff Clark of. "It's almost violent sometimes in how much it rises or falls, so if you have a rise in gold, silver's going to outperform it. When silver does eventually move, it tends to outperform its sister metal gold. ![]() Although it's still historically high, the yellow metal has pulled back from the heights it saw earlier this year. ![]() It's also no secret that gold tends to move before silver, meaning silver may not take off before gold sees more price momentum. Many market watchers see the elusive US$30 level as a crucial point for silver to get through - speaking to INN in May, Don Durrett of said he thinks that would be a breakout point for the white metal. Silver’s characteristic price volatility has been at play in 2023, but experts remain optimistic about its future.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |