So rightly it’s said that all that glitters is not gold. In fact, silver glitters more than gold as India moves on, leaving the COVID scare behind. While gold prices entered a correction zone after a blinding spike during the months of the pandemic, silver stole the show as the world entered 2021. The white metal sold for ₹68,535 per kilogram in the spot market at the time of going to press – a surge of 62 per cent over the same period last year when it was trading at ₹42,425 per kilogram, while the March contract (futures price) climbed 44 per cent from the year-ago period to ₹68,690 a kilo.
Silver’s performance in the international market in 2020 has been one of the best in recent years as it added more than 60 per cent to its value by mid-August. It surged to a seven-year high, scaling to $30 per ounce (an ounce is 31.10 grams).
Gold rallied 28 per cent in rupee terms in 2020, when the pandemicinduced containment measures stalled all economic activities across large parts of the world, scaling record highs. Gold futures surged 43 per cent to an all-time high of ₹56,191 per 10 gram at the MCX as investors looked for a safe haven for their money in August.
After the bull run last year, gold prices began stabilising but silver, which had traded 47 per cent higher last year, kept charging. “The yellow metal may consolidate for some time but silver, due to its industrial usage, is expected to stay elevated in 2021 also,” says Naveen Mathur, Director – Commodities and Currencies at Anand Rathi Share and Stock Brokers.
Denne historien er fra March 2021-utgaven av Outlook Money.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra March 2021-utgaven av Outlook Money.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Stay Ahead Of AI-Powered Cyber Fraud
AI has become an integral part of our lives, right from customer service at banks to insurance claims. But it has now become a powerful arsenal for the fraudsters too who are increasingly using AI to scam individuals and corporations alike to commit fraud. The key is to stay vigilant
Travelling To Europe? Pack In The Essential Covers
Smart travellers must know that insurance is a must-have. From essential health coverage to theft protection and trip interruptions, know what you need for a worry-free Europe trip
How To Spend Wisely This Year-End
We all spend during the year-end. But the trick is not to overspend or borrow, either from friends, or your own investment, to fund your indulgence. Maintaining balance is the key
Travel Now Pay Later (TNPL)
Travel now, pay later (TNPL) is a close cousin of the more popular buy now, pay later (BNPL) schemes.
12 Books Devina Mehra Loved Reading In 2024
Listing books of her choice, among the ones she reads during the year, is ace investor Devina Mehra's favourite year-end activity. She says it's a daunting task to pick around 12 books from a list of 50.
Here's How To Avail Of Ayushman Bharat Yojana
Launched in 2018, the Ayushman Bharat Yojana aimed to provide health coverage to targeted benefi ciaries from the Socio-Economic Caste Census (SECC) 2011, based on deprivation and occupational criteria.
'Focus On The Business, Assess If You Want To Be A Partner For 10-20 Years'
Professor Sanjay Bakshi, a value investor, behavioural economist and adjunct professor at Flame University, Pune, gives his unique perspective on how to choose a stock, in an interview with Nidhi Sinha, editor, Outlook Money, as part of the Wealth Wizards series. He also shares his learnings from role models Warren Buffett, Charlie Munger, Benjamin Graham and others, and how being a chartered accountant, economist, investor and teacher make him into what he is today. Edited excerpts from the interview
The New Trump Card For IT, Pharma
Donald Trump has been re-elected as the 47th President of the US after a gap of four years. Here's how it will affect the Indian markets and how it will benefit sectors such as IT, pharma, export-oriented sectors and others
European Sojourn
Tight on budget? Dump the popular European destinations for the little-known wonders that are equally attractive
Gold ETFs And FoFs
While Indians love to invest in physical gold, even mutual funds offer the option, but in paper format.