Gold vs silver: Which is better for Diwali 2023 Muhurat trading — explained
Diwali 2023 Muhurat trading: In India, new investments on Diwali is considered auspicious as it is believed that such investments bring prosperity and sound financial condition. Even though Indian millennials have strated investing in various other tools like properties, mutual funds, bonds, etc on Diwali, gold and silver still score over these investment options by huge margin. However, the situation becomes highly tricky when one has to choose either of gold or silver while choosing an investment option.
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According to commodity market experts, gold and silver work as hedge against inflation whereas both precious metals ascend or descend in tandem. They emerge as investors' haven when there is any such uncertainty like Covid-19, Russia-Ukraine war, Israel-Hamas war, etc. However, silver has higher industrial use and hence one should look at silver ahead of gold while investing this Diwali, they said while comparing demand-supply constraints of the two precious metals.
On why one should look at white metal instead of gold on Diwali 2023, Anuj Gupta, Head — Commodity & Currency at HDFC Securities said, «Both metals work as hedge against inflation and they are investors' have in case of any global uncertainty. But, silver has higher industrial use and hence in case of demand supply constraint, silver is expected to outshine gold. So, it's advisable for long term investors to invest in silver if they have to choose either of the two precious metals.»
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Expecting higher return from silver, market expert Sugandha Sachdeva said, «Silver is poised to outperform gold, with expectations to reach levels of around
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