Gold vs Silver: Since the start of the war between Russia and Ukraine, the domestic equity market has fallen about 8 percent so far, but gold has gained more than 5 percent and silver has strengthened about 11 percent.
Gold vs Silver: Due to the war between Russia and Ukraine, markets around the world are showing a decline. Due to this, investors are considering it more safe to invest money in options like gold and silver. Since the start of the war, the domestic equity market has fallen about 8 per cent so far, but gold has gained more than 5 per cent and silver is up about 11 per cent. It can be seen here that buying is increasing in both gold and silver, but the luster of silver has increased more than gold. The biggest reason for this is their use. Currently, MCX Gold is priced at Rs 53890 per 10 grams (24 karat) and MCX Silver at Rs 71,000 per kg.
Gold and Silver Outlook: Gold and silver prices increased due to Russia-Ukraine war, what should be the strategy of profit and the right target price
Silver consumption but gold comes back in the market
According to market experts, silver is used in industrial products due to which it is less recyclable, whereas physical gold is used as jewelry which can be returned to the market again for recycling. Because of this, the prices of silver are continuously getting stronger. Silver is used in many industries including the medical industry and electronics equipment. At the same time, silver is also used in EV (electric vehicle) and 5G networks and both are going to grow in the future. In such a situation, the luster of silver is expected to increase more than gold in the long run.
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Experts are positive about gold and silver
- Equities are facing heavy sell-off due to Russia-Ukraine fighting while the commodities market is seeing an uptrend. Russia has carried out the biggest attack on any European country since World War II, due to which the situation on the global level is changing rapidly. Due to this, there is an upward trend in the prices of both gold and silver.
- Western countries are imposing sanctions against Russia. Due to this, fears are being raised on the front of global growth and inflation and as a result gold and silver are showing a rise.
- In the current uncertain geo-political and economic conditions, investor sentiment towards gold and silver remains positive.