There has been a record decline in the prices of gold and silver from record high and at the global level gold and silver are still trading under pressure. Experts are also predicting that gold-silver rates may fall further. Meanwhile, a big decline has been seen in silver and gold ETFs.
Globally, spot gold fell 0.53 percent to $ 4,102.09 an ounce. US gold for December futures is trading 0.4 percent higher at $ 4,124.10 an ounce. Silver Is also at $ 48.82 per ounce, which had once reached above $ 52 per ounce.
Silver became cheaper by Rs 22000
Silver has now reached Rs 1,48,385 per kg on MCX, which is showing a rise of Rs 2827 today. But if seen from the record high, there has been a big fall in the price of silver. Silver has become cheaper by Rs 22,000 from its record level of Rs 1,70,415.
Talking about gold on MCX, today it has increased by Rs 1500 and is trading at Rs 1,23,400 per 10 grams. But it has become cheaper by Rs 9000 from the record high. For December futures, gold had set a record high of Rs 1,32,294 per 10 grams on October 17.
Big fall in silver ETF
Nippon India Silver ETF has fallen by more than 2 percent today and has fallen 20% from the record high.
SBI ETF has fallen by 1 percent today and has lost 18 percent from the record high.
HDFC Silver ETF has fallen by about 3 percent today and is 24 percent below the record high.
ICICI Silver ETF has fallen by 1.5 percent today and is 21 percent down from the record high.
Gold ETF also fell
Today there was a decline of about 4% in Gold Bees ETF, which has fallen by 7 percent.
HDFC Gold ETF fell 3.56 percent today and is down 6 percent from the record high.
SBI Gold ETF has fallen by 3.71 percent today and has lost 6.31 percent from the record high.
ICICI Gold ETF has also fallen by 4% today and is 6.60% below the record high.
What should investors do?
Experts say that gold and silver are such assets which are kept for long term and can give huge amount in long term. Also, if any crisis comes then these metals come in handy. In such a situation, there is no need to be afraid of this decline.
Experts believe that if you have bought Gold-Silver ETF at a high price, then you should be patient, it may increase after some time. These ETFs can also be averaged during the fall, but if you are planning to invest in Gold-Silver ETF now, then you can start purchasing it with small amounts every week or month, which can give good profits in the long term.
(Note- Before purchasing any ETF or share, please take the help of your financial advisor.)
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