Gold vs Silver: Which is Better for Diwali 2023 Muhurat Trading – Explained

Diwali 2023 Muhurat Trade: In India, new investments in Diwali are considered auspicious as such investments are believed to bring prosperity and sound financial condition. Although Indian millennials have stratified investment in various other tools like real estate, mutual funds, bonds etc. on Diwali, gold and silver still outscore these investment options by a wide margin. However, the situation becomes very difficult when one has to choose either gold or silver while choosing an investment option.

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According to commodity market experts, gold and silver act as a hedge against inflation, while both precious metals rise or fall in tandem. They emerge as investors’ haven when there is such uncertainty like Covid-19, Russia-Ukraine war, Israel-Hamas war etc. However, silver has higher industrial application and therefore one should look at silver over gold while investing this Diwali, they said while comparing demand-supply constraints for the two precious metals.

Gold vs Silver: Which is Better?

On why one should look at the white metal instead of gold on Diwali 2023, Anuj Gupta, Head — Commodity & Currency at HDFC Securities said, “Both metals act as a hedge against inflation and they have the investors in case of global uncertainty. However, silver has higher industrial application and hence in case of supply constraint, silver is expected to outperform gold. So it is advisable for long-term investors to invest in silver if they have to choose between the two precious metals.”

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Anticipating higher returns from silver, market expert Sugandha Sachdeva said, “Silver is poised to outperform gold, with expectations to reach levels of approx. 85,000 per kg initially and potentially soaring to far-reaching levels of approx 95,000 per kg. With key support attached to 65,500 per kg, it is important to note that silver tends to exhibit higher volatility compared to gold, reflecting its higher beta.”

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Gold, silver returns since Diwali 2022

On Diwali 2022, the gold price was at 50,580 per 10g levels, whereas the gold rate today is 59,654 per 10g on the Multi Commodity Exchange (MCX). This means that gold has delivered a return of 18 percent since Diwali 2022. Likewise, the silver price last year in Diwali was approx. 57,748 per kg levels, while the silver rate today is 70.025 per kg on MCX. Thus, this precious white metal has logged 21.25 percent 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 November 12, 2023 (Sunday) from 6:00 PM to 7:15 PM. This includes a 15-minute pre-market opening session from 18:00 to 18:15. Trading would take place across various segments such as equities, commodity derivatives, currency derivatives, equity futures and options and securities lending and borrowing (SLB) during the same period.

Disclaimer: The above views and recommendations are those of individual analysts or brokerages and not of Mint. We advise investors to check with certified experts before making any investment decision.

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