Silver breaking out above Rs 1 lakh is an opportunity for investors. Here’s why
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Gold has reached an all-time high, with its futures crossing the ₹89,000 level intraday on MCX. Following gold, a significant upmove has also been witnessed in silver’s price, with futures trading above ₹1,00,000. I discussed the strong upside potential for silver at the beginning of March, and since then, the price of future contracts has risen by 6.6%. As mentioned in the previous article, one of the major data points supporting silver’s upside potential is the Silver-to-Gold ratio. Excluding the COVID-period decline, the current ratio of 1.09% is near a 30-year low. Gold, which has moved up phenomenally, has also paved the way for silver to gain momentum, as it closely follows in the precious metals category. ETMarkets.com Now there is yet another reason to focus on silver… It has formed a new all-time high and even crossed the psychological mark of Rs 1 Lakh. On analysing historical returns of silver after it crosses the previous ...