Silver Prices Analyzed
Silver is getting more expensive! In India, the price recently reached a high of 200,000 rupees per kilogram. Experts at Axis Securities think it could go even higher – all the way up to 240,000 rupees by 2026. This means buying silver now might be a good idea, but it’s important to understand why prices are rising.
Key Points
- Silver prices hit a record high in India.
- Experts predict a significant increase to 240,000 rupees by 2026.
- A “rounding bottom” breakout signals a long-term price rise.
- Demand is growing due to the shift to renewable energy.
- The Gold/Silver Ratio is falling, favoring silver’s value.
- Buying opportunities may arise during price corrections.
What’s causing this increase? The main reason is that more people are using silver, especially in solar panels. Solar panels need silver to work, and demand is growing fast because everyone wants to use clean energy.
Experts say that silver has been stuck at a similar price for many years, but now it’s breaking out of that pattern. This is a positive sign that prices will continue to go up. They’re watching the gold and silver ratio – it’s changing, showing that silver is becoming more valuable compared to gold.
The experts also look at charts and numbers to predict the future. They’re watching how silver is trading compared to its long-term average, and they see that it’s doing well. Also, the “Relative Strength Index” (RSI) shows that silver is very popular, and this usually means that the price will keep going up.
Even if the price goes down a little, it could be a good time to buy more silver. As long as the price doesn’t go too low, experts believe it will eventually go back up. It’s like a wise investment – be patient, and watch for opportunities.
“Strategic accumulation during price dips strengthens long-term investment potential in silver.”
