Going by the gains in international rates in safe haven assets, both silver and gold prices are continuing their rally, with gold striking the highest level in India of over Rs. 50000 per 10 gm while silver also touched a remarkable price of Rs. 61,000 per kg mark, a multi-year high.
This is as there is low interest rate, hopes on stimulus package, pumping into safe haven assets with a record inflow in ETFs, high liquidity which also asset allocation into gold and similar commodities.
Silver which surpassed gains in gold may still surprise you
In a matter of just 3 days time, the white metal in India has scaled higher by Rs. 8000, making whopping gains. From March lows, silver has recouped gains of almost 85% and with still a way to go to scale to its all time high of Rs. 75000 per kg, there is still room for return from the white metal.
In India, silver is at a 9-year high price. And the metal is expected to surprise you going forward with gains on the higher side and rather swiftly. But it shall not be a straight line of gains.
So, investors willing to profit from likely capital appreciation in precious metals going forward may distribute their fund allocation between gold and silver in the ratio of 3:7.