Since the start of the year, the price of silver has risen spectacularly. According to IBJA, prices have increased by Rs 18,805 so far this year. As of January 1, the price of one kg of silver was Rs 73,395 per kg, which has now increased to Rs 92,200.
According to Anuj Gupta, head of commodities and currencies at HDFC Securities, silver could reach Rs 98 per kg by the end of this year. In such a situation, if you are planning to invest in silver, silver ETF may be the right option.
With Silver ETF, you can invest in silver stocks. It has given returns of up to 34% over the past year. Today we are talking to you about Silver ETF
First of all, understand what ETF is?
The ability to buy silver stocks is called Silver ETF. These are exchange-traded funds, which can be bought and sold on stock exchanges. Since the benchmark of a silver ETF is the spot price of silver, you can purchase it at a price close to the actual price of silver.
There are many benefits to investing in silver ETFs
You can buy silver even in small quantities: Buy silver in units via ETF. This makes it easier to purchase silver in small quantities or via SIP (Systematic Investment Plan). The price of one unit of Silver ETF is currently less than Rs 100. This means you can start investing in it for less than Rs 100. Money remains safe: e-money is kept in the demat account in which only annual demat fees need to be paid. Plus, there is no fear of theft. While physical money, apart from the risk of theft, must also be spent for its security. Ease of Trading: Silver ETFs can be bought and sold instantly without any hassle. This means you can sell it whenever you need money.
These Silver ETFs Have Given Better Returns Over the Past Year
ETFsReturns over the past yearReturns over the last 3 yearsNippon India Silver ETF34%49%ICICI Prudential Silver ETF32%40%Aditya Birla Sun Life Silver ETF32%47%HDFC Silver ETF32%70%Axis Silver ETF30%67%
Source: Grow, October 5, 2024