Silver Price Can Reach Rs. 1.5 Lakh Per KG in 3 Years, 250% Return Expected By 2024 | Silver prices can reach 1.5 lakh rupees per kg in 3 years, 250% return expected by 2024 | NewsBust Silver Price Can Reach Rs. 1.5 Lakh Per KG in 3 Years, 250% Return Expected By 2024 | Silver prices can reach 1.5 lakh rupees per kg in 3 years, 250% return expected by 2024 | NewsBust

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Silver Price Can Reach Rs. 1.5 Lakh Per KG in 3 Years, 250% Return Expected By 2024 | Silver prices can reach 1.5 lakh rupees per kg in 3 years, 250% return expected by 2024

By Amit - January 14, 2022

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  • Silver Price Can Reach Rs. 1.5 Lakh Per KG In 3 Years, 250% Return Expected By 2024

New Delhi41 min ago

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Due to the fear of rising interest rates in India and around the world sooner or later, the equity market is expected to stop. On the other hand, it is believed that this year after the third wave, the Kovid epidemic will end. In such a situation, uncertainty will decrease and gold will get less support. Meanwhile, inflation will continue to bite the pockets of the people, due to which silver can prove to be a strong hedging tool in the hedge.

Expected returns of up to 250% in 3 years
Most analysts believe that silver will continue to have a strong bullish trend till 2022 and next few years. Ajay Kedia, director of Kedia Advisory, estimates that silver can see a level of 80 thousand this year and up to Rs 1.5 lakh in the next three years. At present it is around Rs 61 thousand per kg. Accordingly, silver can give a return of 33% this year and up to 250% in the next three years.

Manoj Kumar Jain, director of Prithvi Finmart, estimates that silver can reach 74 thousand this year and 1 lakh in three years. Accordingly, silver can give more than 67% return.

There is a possibility of a big rise in silver due to these three reasons
1.
According to the demand is increasing, the mining of silver is not increasing as fast. Silver mining continued to decline till 2018-20.
2. Additional demand for silver is emerging from the automobile, solar and electric vehicle industries. This demand is increasing year by year.
3. The President of America is supporting green technology. Silver is used more in green i.e. eco-friendly technology.

Demand has been increasing continuously for five years, but supply is stable
According to the London-based Silver Institute, the global demand for silver has been increasing continuously for the past five years. The exception to this was 2020, when the Kovid epidemic was at its peak. In contrast, silver mining has been steadily declining since 2017. Silver mining increased on an annual basis only in 2021, but this was due to the low-base of 2020. Even then, mining grew only by 8.2%, while demand for silver had increased by 15.3% during that period.

A report by GlobalData says that the demand for silver will grow by 25-30% between 2022-24. In contrast, from 2022 to 2024, silver mining is expected to grow by only 8 per cent.

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