indian stock market The momentum has been put on hold. The market has been trading in a range for the last few months. But gold and silver are not stopping. The prices of both these precious metals are continuously setting new records. The auspicious time of Dhanteras and Diwali is coming in the next few days. The tradition of buying gold and silver on Dhanteras has been going on for a long time. On this occasion, there is a belief among the people that buying gold and silver pleases Goddess Lakshmi. There is huge purchase of gold and silver on this occasion. In such a situation, if you are planning to buy gold on Dhanteras and Diwali, then today we are telling you which of these two precious metals will be more beneficial to buy? Let us know.
Expecting a big rise in silver: Anuj Gupta
Anuj Gupta, Commodity and Currency Head, HDFC Securities, told India TV. Told that if you want to buy gold or silver for investment then investing in silver will be more beneficial. The price of silver on MCX is Rs 98,000. The price of silver in the domestic market reached Rs 98,000. However, this is not its lifetime value which was seen in 2011. The all time high price of silver was $49.8 in 2011. Currently, silver is trading around $34 in the international market. In such a situation, I believe that silver will continue to rise further in the coming months. Silver consumption has increased due to increase in industrial demand. This will also increase the price. My first target for silver is Rs 1.10 lakh per kg and the second target is Rs 1.25 lakh. This price is expected to come next year.
What is the prediction regarding gold?
Anuj Gupta told that there is a tremendous rise in gold. Gold is running at its record high. On Multi Commodity Exchange (MCX), gold is at Rs 78,242 per 10 grams. At the same time, globally Comex gold is close to $ 2,744.30 per ounce. Talking about the domestic market, gold has reached a record level of Rs 80,650 per 10 grams. More growth may be seen till Diwali. The next target of gold can reach Rs 83 to 85 thousand per 10 grams by the end of this year or in the new year. That means, no big rise in gold is expected from here.
What to buy on Dhanteras?
If you want to buy gold or silver for investment then buy silver on Dhanteras. A further big rise in the price of silver is expected. This means that you can get excellent returns on investment. This will be more than gold.
