Winning Bizness Desk

Mumbai. Gold and silver continue to be the first choice of investors as the rates of gold and silver are climbing to the zenith day by day. While on the one hand they are going away from the purchase of the common man, on the other hand they are also making investors rich. Most people keep an eye on the rising prices of gold, but very recently silver has also beaten gold in terms of giving returns. Due to the increasing demand for silver, prices are jumping well. Silver is now not only used in jewellery but has also developed as an industrial metal. Currently, the price of silver has reached Rs 91 to 95 thousand becoming everyone's favorite. This white metal has defeated not only gold but also the returns of BSE Sensex in May. Let's know how this happened.

Silver jumped 30 percent in 6 months

Silver has given better returns to investors this year. In the year 2024, silver rates on Comex have jumped by about 30 percent. On MCX too, silver is trading at its all-time high rate of Rs 95950 per kg. Silver has also got great support from the increasing demand for EVs and hybrid cars worldwide and the increasing focus on solar energy. The Government of India is also increasing its focus on solar energy. Due to this, there is a tremendous increase in the demand for solar panels. It is believed that the industrial demand for silver can increase by 10 percent this year.

Silver ETF can prove to be a good investment

The Indian economy is growing rapidly. The US Fed Reserve can also take tough decisions in the coming days to deal with the economic slowdown. A new government has also been formed in India. This is expected to accelerate the economic reforms. In such a situation, Silver Exchange Traded Fund can prove to be a good investment option. In such a situation, you can get good returns by adding it to your portfolio. You can also buy Silver ETF with less investment instead of silver bars or coins.

Investment can increase due to this reason

According to the data, 40 percent of silver is used for non-industrial purposes all over the world. This year, there will be an increase in industry and non-industry demand. If the Federal Reserve cuts interest rates, then investment in silver will start increasing rapidly. It is expected that the Reserve Bank of India can also cut interest rates by the October quarter.