iCharts Discussions

[apka]

I needed information about investing in Silver. Can those who trade in commodities guide whether there are Silver ETF options available like there are Gold ETFs? Is there an option to invest in Silver for long term without having to buy actual bars?

[apka]

I will appreciate any guidance or information in this.

[vinay28]

apka, I checked with my broker. You can buy only silver fut provided your broker and you have a "contract" for doing trading in coomodities.

Lot size is 1/5/30 kg. present rate for 1kg fut is about 35650 and you have to pay only 1800 per lot of 1 kg at this price. If it goes up, keep paying difference.

[apka]

[vinay28]

it's a different issue whether gold and silver are worth investing. Gold only at 1080$. Did it reach there in recent past?

[apka]

in those terms i have no idea. but i know 2 things, its been years since silver has gone below gold again... it has always maintained a gap and given a bounce and its been years since it fell from 70-75k mark.

everything has gone up in anticipation of recovery of economy. now if it starts getting better and performing than commodity like silver will take a run.

[pkholla]

Apka: Welgro has given his opinion that gold can flop to 16000/ 10 gm. If that happens, silver will also nose dive in sympathy. Shouldnt you be a little patient before buying as the price may still correct nicely to south
I read a Bombay origin investment e-letter that gold and silver are being hammered artificially in the US to force people into shares. Then the extra- smart will exit shares at peak and buy up the gold and silver waiting for them at attractive prices. Probably happening here also.
Prakash Holla

[apka]

I don't believe it will touch 16000. On the charts it may be supporting it to do so at present. But since around 3 years Gold has been bouncing off from around 23000 everytime. Globally whatever maybe happening in Gold it's still trading at around 26k-27k. I don't think it's falling with the global prices as much?

India are the biggest importer of Gold, because still most Indians practice of making investments by buying Gold. And govt has been discouraging it by increasing import duty. So if we see a new level below 23000, it would not sustain even for a few days because of the buying pressure / another round of addition to custom duty. And in the market / banks prices don't drop in tangent to the trading prices till a week if it's a new level.

But I think it's time to invest in Silver now. Silver has industrial usage and demand also. With economic recovery expected, it's demand would increase silently before economic figures show improvement. Which is why, even though earlier 1kg silver used to trade below the price of 10gm gold, now it has been above it for a long time.

Anywho, it may or may not fall somewhat more. I can be wrong in my assessment or thinking process. But to me it feels right and I am willing to hold.

[vinay28]

I TOLD YOU TO CHECK IF GOLD WENT TO 1080$ IN RECENT TIMES. HAVE YOU?

[apka]

1184.. So 100 shy from your price per ounce which would make it about 2000 in inr value approx per 10 gms.

[vinay28]

[pkholla]

[apka]

how or from where does one acquire them? what about reselling?

[apka]

I bought raw silver bars weighing 850 gms as per today's rate.

[vinay28]