AZHAR ALI KHAN
KARACHI: Silver metal prices touched another all time high in the domestic market after being appreciated globally, traders said on Saturday.
The 10-gram silver increased by Rs4.28 to Rs608, while a tola prices surged by Rs5 to set a new record of Rs710 in late Saturday trade.
"The silver metal has become the focus of investors as the gloabl metal prices are consistently setting new records," said a local trader.
The investors believe that the silver runs swiftly parallel to gold and the yellow metal prices are unexpected to go down sharply in near future.
"Silver is comparatively inexpensive and a considered as a very safe haven for the investors specially for the people managing medium-sized fund," he commented.
The global economies are being recovered at a much slower pace and the analysts believe that acquiring pecious metals are far better than hedging currencies.
Likewise, the international crude oil is not ready to fall below $75 per barrel mark as the world's prime economies are striving hard to get rid of the post-recession era.
No comments:
Post a Comment