According to the experts, the year 2023 along with gold, silver is also very important. In the current year, an increase of 25 to 30 thousand rupees can be seen in the price of silver.
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Silver Price Prediction: Since the year 2022, the price of gold has got wings. Gold rates in the first fortnight of the year (Gold Price) I have seen a rise of about Rs.750. Whereas silver is completely flat during this period. silver price (Silver Price) From the first day of January till now it is swinging between 69,000 to 70 thousand. According to the experts, the year 2023 along with gold, silver is also very important. In the current year, an increase of 25 to 30 thousand rupees can be seen in the price of silver.
This means that by the end of the year 2023, the price of silver can reach from Rs 95 thousand to Rs one lakh. Now the question is why are experts asking to bet on silver this year? Can we really see such a big jump in the price of silver? What are the reasons due to which a rise in the price of silver can be seen? Let us try to find answers to these questions…
Let’s look at some statistics first
- In the first 15 days of the year, the price of silver has been seen completely flat.
- During this, the price of silver has been seen in the range of Rs 69,000-70,000 per kg.
- In the year 2022, a return of 10.77 per cent was given in the price of silver.
- In the year 2021, silver gave negative returns and investors suffered a loss of 9 per cent.
- In August 2022, the price of silver reached a lifetime high of Rs 79,980.
- At present, silver is cheaper by about Rs 10,000 than Life Time High.
Now some questions about silver
- Will silver break its lifetime record and cross 80 thousand in the year 2023?
- After all, why are experts claiming the price of silver to reach one lakh rupees?
- After all, what are those reasons, which can cause a jump in the price of silver?
- Is confusion about silver not being spread?
- Is there information among investors about Silver ETF or not?
- Can gold prices also be seen supporting silver?
- Does silver also shine like gold in recession?
- Will the effect of geopolitical tension i.e. Russia Ukraine war also be seen in the price of silver?
After all, due to which reasons will silver get support?
- From the IMF to the World Bank, they have expressed apprehensions of recession. The way gold is considered a safe haven during recession, in the same way silver is also seen as a safe haven.
- In the year 2020, when the whole world was going through a period of lockdown and the fears of recession were strong, the price of silver started from 50 thousand in March 2020 and reached close to 80 thousand in August. It is clear that along with gold, silver is also a true companion for investors in recession.
- Increase in industrial demand will also be able to increase the price of silver. China has eased the lockdown by changing the Covid policy. China is the manufacturing hub. The industrial demand for silver is the highest in the whole world.
- Auto and electrical sector can boom more in the year 2023. Silver is used in making chips in both these sectors. The manufacturing sector is in focus all over the world. In such a situation, there will be demand for silver and the price will also increase.
- An increase in purchases from central banks is also expected. According to experts, along with gold, this year central banks around the world can increase the purchase of silver. In which the names of central banks of China, India and Japan are being taken from the main ones.
- Geopolitical tension can also increase the demand for silver. Due to the Russia and Ukraine war, the investors’ stance is on gold as well as silver. Because of which the price of silver has remained around 70 thousand rupees for the last 15 days.
- The effect of rising gold prices will also be seen on silver. In fact, both the metals are seen supporting each other in such times. If there is an increase in the price of gold in the metals sector, then there is also a rise in other products of metals assets i.e. silver and platinum.
What is the condition of gold at present?
- A fall in the price of gold is being seen on Wednesday.
- In the futures market, gold fell by Rs 183 to Rs 56,169 at 11.40 am.
- A day ago, gold prices had closed at Rs 56,352 per ten grams.
- Today, gold opened with a fall at Rs 56,303 per ten grams.
- During the trading session, gold went to the lower level with Rs 56,122 per ten grams.
- By the way, this year the price of gold can reach up to 60 thousand rupees.
What do the experts say?
According to Ajay Kedia, Commodity Expert and Director of Kedia Advisory, there can be a big jump in the price of silver this year. Explaining the reason for this, he said that the way the fears of recession are going on this year and China has eased the COVID policy, due to that the price of silver can be seen to increase. He said that silver is used in many sectors. Jewelery silver is used in India. In the year 2023, the price of silver can reach up to one lakh rupees.
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