The Silver Institute released its 2024 World Silver Survey this April. According to its data, silver demand outshone supply in 2023 for the fifth year in a row. India’s contribution in the silver market has enhanced drastically in the last few years. Being a big contributor of silver in Asia, a change in the demand pattern for silver might impact its price in the international market.
Buying silver digitally offers numerous benefits like portfolio diversification and protection against inflation. It can be your safe haven during economic uncertainties if you consider a few vital points when making a purchase.
Planning To Buy Silver Digitally? Consider the 3 Points Stated Below
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Buy Silver Digitally Whenever Feasible
One of the primary benefits of buying silver through a digital platform is that you can buy the metal in small quantities. It is beneficial for salaried individuals or businessmen willing to invest in small amounts on a regular basis. You can accumulate every month and redeem it together later.
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Follow Silver Price/Trend in India
Most investors prefer buying precious metals when their prices are low. The government reduced import taxes on gold and silver to a sleek 6% in the Union Budget 2024 last week and it had a direct impact on silver prices. It fell for the third straight week and sank sharply over 9%, hitting a 12-weeks low of ₹80666 per kg. Key resistance was located at 82000 which once crossed then 82900-83400 was seen. The crucial support level was located at 80700 below which 80000-79500 was expected.
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Choose A Reputable Digital Platform For Silver Purchase
If you are planning to buy silver through a digital platform, it is advisable to choose someone reputable like myDigiSilver. We are widely preferred for offering a seamless shopping experience. Silver is sourced from internationally reputed bullion dealers to offer you the standard silver of 99.9% purity. You can redeem the purchased silver any time at any of our 150+ Senco stores spread all across India.
Visit myDigiSilver now to enjoy the Senco advantages when buying silver digitally and diversify your portfolio.
Disclaimer: The data provided on this blog is for general informational purposes only. It is based on our research and understanding, and we cannot guarantee its accuracy or reliability.