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Silver the new Gold

June 23, 2016

Silver the new Gold

In the year 2010 silver is reported to have yielded a whopping 61% returns (Economic Times, Dec.3, 2010). Gold, in the same period, had given a return of 15%.

Silver price has of late been on all time high level and currently quoting around ` 46,000 per Kg. The new ‘silver buying’ wave has more and more customers turning their attention towards silver. Some of the leading investment bodies are recommending investors to buy silver for the long term, expecting the silver price to reach the Rs. 60,000 target in the near future.

Most things rare, but highly useful, turn out to be valuable. The realization that there is less silver on earth than gold has further accentuated the interest towards silver. People are used to buying silver coins, gift articles and jewellery. Silver jewellery is considered fashionable and is often used as party wear or office wear. Silver is considered auspicious and silver articles are often used in worship (pooja). While status conscious families entertain guests with silver dinnerware and health conscious individuals use silver ring, plate and crockery, business men are beginning to look at silver as an investment.