The fall in the prices of gold and silver continues. At the same time, it has become possible to invest in silver through ETFs. Due to the news of a record rise in crude prices, the prices of crude have also reached beyond $ 82. Let’s take a look at the movement of the commodity market.
sky-high prices
The rally in crude oil continues. The price of crude oil has crossed $82. Brent’s price has reached 6-week high. Crude prices have been climbing since January 3. Brent opened above $82 for the first time in January. At the same time, WTI opened above $ 80 for the first time in January. The price of WTI has reached the high of 7 weeks. On MCX also the price of crude has reached near 6000. Crude has reached 7 week high on MCX.
Why did the price rise?
The Kazakhstan crisis and supply problems from Libya are affecting the crude prices. The OPEC+ countries are monitoring the situation in Kazakhstan. Kazakhstan produces 1.6 million/barrel. Libya’s production of about 5 lakh/barrel oil has decreased. Here the product has been reduced due to pipeline maintenance and closure of oilfields.
faded gold, pale silver
The price of gold on COMEX has slipped below $1800. On the other hand, gold on Comex has reached below 17 days. After December 15, 2021, the price of gold has reached below $ 1800. On the other hand, gold is being traded below Rs 47800 per 10 grams on MCX. Gold on MCX has broken about 1.50% in January. Gold prices on MCX are seeing a decline for the third consecutive week.
On the other hand, if you look at the rhythm of silver, then on COMEX silver is trading below $ 23. Silver prices are seeing a decline for the second consecutive week. Silver prices on COMEX have fallen 3% in January. The price of silver on MCX has come down to 62000. Silver has fallen more than 3.50% on MCX.
Why the drop in prices?
Omicron and crude prices have put pressure in gold and silver. However, gold has got some support from the WHO statement on Omicron. But the continued rise in crude prices is putting pressure on gold. The tough stance of the FED has also put pressure on gold. On the other hand, the fall in gold prices is being seen due to the strengthening of the dollar.
Hot Stocks | There are signs of bullishness in the market, bet on these stocks for earning a lot in 2-3 weeks
Buy silver in less than Rs 100
At the same time, after gold for the people, now the option of investing in silver through ETF has been opened. Investing in silver is made possible through ETFs. Like gold, you can now invest in silver through ETFs. You can buy silver for less than 100. There is an opportunity to invest in Silver ETF till January 19. Explain that ETF tracks the price of an index or commodity. Gold ETF was launched in 2007. You can invest in Silver ETFs through Demat.
Benefits of Investing in Silver ETFs
If we look at the advantages of investing in silver ETFs, it has high liquidity and low storage cost. There is no concern about the purity or quality of silver. Along with this, the option of hedging against inflation is also available. Along with this, it also reduces the risk of the portfolio. You can also invest in Silver ETFs through Demat. The cost is much lower than spot and futures. In this, an investment of less than Rs 10,000 has to be made for investment and there is no transaction fee to be paid.
.