Read on the application
The luster of silver may increase in the coming months. The gold-silver ratio has fallen below the 80 level, suggesting that silver will outperform gold in the coming months. Also, by December this year, the price of silver will reach the level of 90,000 rupees. Analysts have said that.
The gold-silver ratio is now at 79.1
The gold-silver ratio was around 85 in early August which has now come down to 79.1. The gold-silver ratio is used to understand the relationship between the value of gold and silver. This ratio shows how many ounces of silver would be needed to equal the value of one ounce of gold. For example, if the price of gold is $1000 per ounce and the price of silver is $20 per ounce, the ratio will be 50:1.
Also Read- Cheaper than 2 rupees, stormy boom in this stock, orders of 56 crores received
Analysts’ opinion on gold-silver prices
The gold-silver ratio has come down to 79.1. Analysts believe that gold prices will underperform compared to silver. Ajay Kedia, Director, Kedia Advisory, says, “Historically, the gold-silver ratio has not sustained above the 82 level and is now reverting to its normal average range. The ratio has now come down to 79.1. This suggests that silver prices will outperform gold going forward. Kedia believes that by December 2023, silver prices in the MCX could touch Rs 90,000 per kg.
Also Read- Domestic LPG cylinder Rs 200 cheaper, Govt gift before Raksha Bandhan
Gold may reach 65000 by the end of the year
Kedia says industrial demand, ETF buying and falling gold-silver ratio could support silver prices and its price by December this year to Rs. Can reach the level of 90000. At the same time, the price of gold may reach the level of Rs 65000 per 10 grams by the end of the year.
Disclaimer: The information provided here is only about stock performance and does not constitute investment advice. Investing in the stock market is subject to risk and you should consult your advisor before investing.