Diwali 2023 Muhurat trading: In India, new investments on Diwali is considered auspiciou as it is believed that such investments bring prosperity and sound financial condition. Even though Indian millennials have strated investing in various other tools like properties, mutual funds, bonds, etc on Diwali, gold and silver still score over these investment options by huge margin. However, the situation becomes highly tricky when one has to choose either of gold or silver while choosing an investment option.
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According to commodity market experts, gold and silver work as hedge against inflation whereas both precious metals ascend or descend in tandem. They emerge as investors’ haven when there is any such uncertainty like Covid-19, Russia-Ukraine war, Israel-Hamas war, etc. However, silver has higher industrial use and hence one should look at silver ahead of gold while investing this Diwali, they said while comparing demand-supply constraints of the two precious metals.
Gold vs silver: Which is better?
On why one should look at white metal instead of gold on Diwali 2023, Anuj Gupta, Head — Commodity & Currency at HDFC Securities said, “Both metals work as hedge against inflation and they are investors’ have in case of any global uncertainty. But, silver has higher industrial use and hence in case of demand supply constraint, silver is expected to outshine gold. So, it’s advisable for long term investors to invest in silver if they have to choose either of the two precious metals.”
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Expecting higher return from silver, market expert Sugandha Sachdeva said, “Silver is poised to outperform gold, with expectations to reach levels of around ₹85,000 per kg initially and potentially soaring to far-reaching levels of around ₹95,000 per kg. With key support pegged at ₹65,500 per kg, it’s important to note that silver tends to exhibit higher volatility compared to gold, reflecting its higher beta.”
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Gold, silver return since Diwali 2022
On Diwali 2022, gold price was at ₹50,580 per 10 gm levels whereas gold rate today is ₹59,654 per 10 gm on Multi Commodity Exchange (MCX). This means, gold has delivered to the tune of 18 per cent return since Diwali 2022. Likewise, on last year Diwali, silver price was at ₹57,748 per kg levels while silver rate today is ₹70,025 per kg on MCX. Thus, this precious white metal has logged 21.25 per cent since last Diwali,” said Anuj Gupta of HDFC Securities.
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Muhurat trading time 2023
According to the circular issued by NSE and BSE, Muhurat Trading 2023 will take place on 12th November 2023 (Sunday) from 6:00 PM to 7:15 PM. This includes 15 minutes pre-market opening session from 6:00 PM to 6:15 PM. Trading would take place across various segments like equity, commodity derivatives, currency derivatives, equity futures & options, and securities lending & borrowing (SLB) in the same time slot.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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Updated: 11 Nov 2023, 08:40 AM IST