People who trade in commodities mostly focus on only two ETFs, Silver ETF also called Silver Bees, and Gold ETF called Gold Bees.
Today we will discuss Silver ETF’s share price prediction for April 2024. Because despite being a very volatile ETF stock, it has been negative in the last 2 to 3 months.
In this article, we will talk about why this bet remained negative for so long and why it has not been able to give such good returns in the last few months for which it is popular.
Silver ETF or Silver Bees Prediction for April 2024
If we talk about commodities, then silver is one such which is considered to be the most volatile in the commodities market.
Because we saw the Silver ETF open up to 2 to 3% in a day or so before. The ETF has given good profits to investors in a very short time.
Despite being so volatile and attractive, this ETF has been giving negative returns for a long time, but from March 2024, a good bounce has been seen in this ETF, which indicates to us that this ETF will give us very good returns in the coming time.
But if we do not go into the long term and predict its returns only in the coming month of April, then after its technical analysis, we feel that it can go up to 74 or 75 INR by the end of April 2024.
Talking about the current price of this ETF, Silver Bees is currently trading at 72.52 INR. In March 2024, this ETF has given returns of up to 6% in just 15 days.
If we talk about the RSI indicator strategy, then it is going to give us similar or even more returns till the end of April 2024.
Why did it go down in the last few months?
See, if we talk about the commodities market, it is a little different from the normal stock market, it is greatly affected by market news or what kind of events are going on globally.
These market news have a direct impact on the supply and demand of the commodities market. This was the reason that the demand for silver was not so much but its supply was very high due to which its price fell.
But now both silver and gold have become more in demand in the market, due to which the prices of both will increase but the biggest impact is going to be on silver.
In the coming time, you will see silver rising a lot due to which the price of silver will also start increasing.
What should be the investment strategy in Silver ETF or Silver Bees?
To invest in Silver ETF, you can use this strategy which we have explained in 5 points.
- First, divide your investment into five parts.
- As soon as the RSI of Silver ETF comes to 40 in the time frame of 1 hour on the RSI indicator, you can make your first investment in it.
- If silver falls by one or two percent from there, then you can invest your second part in it.
- You can use this strategy in future as if it falls further then you can invest more in it.
- In this way you can use your five parts but generally it is seen that you will not be able to use your five parts completely and before that you get the return.
If the RSI Indicator is not on 40 RSI, can we still buy Silver ETF?
See as we said it depends on the demand and supply at market. So, according to your market analysis, the demand for Silver is high and the supply is less, then you can invest in this ETF even without looking at the RSI.
But we would suggest you that if you have adopted the RSI strategy then you should invest on this strategy only.
Otherwise, if you have a good understanding of the commodities market and are capable of doing good market analysis, then you can trade without the RSI strategy in this ETF.
Can Silver ETF give us good returns in a short period?
If we talk about this time, then Silver ETF can give you good returns in a short time. If you are ready to invest your money in it for three to four months, then you can easily get returns ranging from 8% to 10%.
How much return can Silver ETF give at the end of this year?
If we talk till the end of 2024 then Silver Bees will cross the range of 80 INR or it may even cross 82 INR. If you invest in it properly, it can give you returns of up to 25% by the end of this year.
Conclusion
If we conclude this article then we get these points.
- What was the reason why Silver ETF was falling continuously for the last few months?
- How many returns can this ETF give us by April 2024?
- Silver is a very volatile asset in which we can get very good returns by investing at the right time.
- Silver ETF or Silver Bees are traded based on a commodity market that keeps in mind market news and global events.
- By the end of 2024, we may see this at 80 INR or even more. If we invest in it properly, it can easily give us returns of up to 25% by the end of this year.
