Gold Silver Honeymoon Period Over, Any Rise Sell Sell Sell, Buy Karna Mana Hai Gold High – 34893 / Silver High – 38323

Gold Silver Honeymoon Period Over, Any Rise Sell Sell Sell, Buy Karna Mana Hai Gold High – 34893 / Silver High – 38323

Very Big Down Fall Expected – Sell Only – Gold Silver Honeymoon Period Over, Any Rise Sell Sell Sell, Buy Karna Mana Hai Gold High – 34893 / Silver High – 38323

— Gold Silver Reports (@goldsilverrepor) June 25, 2019

GOLD SILVER SELLER SAAF, SELL KARO GOLD SILVER KO ANY RISE

Gold price has reached a six-year high crossing $1,400 an ounce mark as rising expectations of 50 basis points cut in Federal Reserve’s July meeting fuel the rally in the yellow metal. Planned US sanctions against Iran, and the upcoming meeting between the US and Chinese presidents are also stoking the rally in the precious metal. Gold rose 4.3% in the previous week.

Now analysts and bullion dealers believe a similar rally is likely to be seen in silver as well as the gold-silver ratio (GSR) is currently at a multi-year high of 91.1, indicating that silver is undervalued and there is room for a rally in silver prices once the yellow metal crosses the $1,430 per troy ounce mark.

Silver was trading at Rs 35,213 per 10 gm on Monday in the spot market. “There will be a spike in silver when gold crosses the $1,420-$1,430 level, and the rally will be much more compared with gold. Silver is hovering around $15.38 per troy ounce. Once it crosses the $16 per troy ounce mark, there will be no looking back for silver,” Ketan Shroff, managing director, Penta Gold Bullion told the Economic Times.

In June so far gold has rallied nearly 8%. Analysts believe it will rise further in the coming months due to rising interest for gold by central banks, increased geopolitical uncertainty and clouding of global recessionary environment, the ET report said.

“There is a feeling among the international gold and silver trade that silver will give good returns in the coming months. We have information that silver vaults are being set up for storing silver in anticipation of a rally in the metal. The metal has remained underperformed for quite a long period. Once gold crosses Rs 34,920 per 10 gm mark (Rs 36,000 with GST) we will see a rally in silver prices,” the business daily quoted as saying Surendra Mehta, national secretary, India Bullion & Jewellers Association.

Traders also believe that the upside in gold may be limited so investors are likely to move to silver, which has a lot of industrial usage along with jewellery.