There has been a surge in the prices of gold and silver this year, but after reaching record high, a sharp decline has been seen in the prices of gold recently. Not only gold, but the price of silver has also fallen sharply in the meanwhile. Regarding the price of silver, experts are reminding us of the year 2011, when Silver Crash was seen.
broken down Sleep-price of silver
Not only in the country but also in foreign markets, a decline in gold-silver prices was seen for the third consecutive day on Thursday. At the beginning of this week, the price of gold in the international market had reached $ 4381 per ounce, but it fell to $ 4090 per ounce. Whereas silver had touched the figure of $ 54.5 per ounce, breaking all its old records, but it has also fallen by more than 10%.
On Thursday, the gold rate on MCX with expiry of December 5 fell by around Rs 9000 from its high to around Rs 1.22 lakh. Silver It slipped badly and fell to Rs 1.45 lakh in early trade. This precious metal, considered white gold, has fallen from its high to around Rs 25,000.
When demand decreased, prices skyrocketed
After vigorous purchasing on Diwali-Dhanteras, the demand for Gold and Silver has decreased and due to this the prices of both have fallen rapidly. experts on this investmentWho are being alerted? He says that when an asset reaches a multi-year high, investors should make partial profits from it. This strategy has been used for decades to prevent large losses and has been effective 7 times out of 10.
What happened in 2011?
Financial expert CA Nitin Kaushik explained, citing the example of one of the most shocking incidents in the history of commodity trading. He reminded investors of the massive fall in silver prices in 2011 and appealed to investors to learn from the past. In his Twitter (now
He said that at that time there were discussions that silver metal would reach 100 dollars and investors ignored all the warnings and bought every dip. But within a few days, the situation seemed to have reversed and suddenly it started falling with a heavy blow.
Impact on investors remained for years
When Osama bin Laden was killed in May 2011, global risk perception changed overnight. A huge fall was seen in other commodities including silver. It fell from $48 to $33 on MCX in just five trading days, i.e. a huge fall of 31%. According to Nitin Kaushik, its impact remained on many investors for years.
The pain did not end here, by September 2011 silver again fell rapidly. This time it came to $26 in less than a month. This metal, once called White Gold, had become so weak that even traders with long experience were surprised. Pointing to the current fall in prices, he said that MCX Silver Price fell by almost 10% in a single day, which is a reminder of the ups and downs that occurred at that time. He said that history repeats itself.
Told this way to escape
Advising investors, Kaushik said that the 45-year pattern seen not only in silver but also in Nasdaq, Nifty, Gold presents a clear picture and shows that every euphoric boom ends with exhaustion. He said that it is not necessary to run fast to reach the top, earn some profits, take a breath and look for the next 40-50% opportunities elsewhere. Markets never die, they just change leadership.
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