Stock Market Live Updates 30 October 2024: Stock to buy today: ICICI Securities (₹882.30): BUY

Silver has been the best-performing asset class in 2024, touching $35 (~Rs 100,000) mark respectively this month.

As Silver prices are trading at record high levels, it is advised to buy precious metal as an auspicious small token amount and not huge lumpsum this Dhanteras/Diwali in the form of physical silver coin, a few units of Silver ETF or some token amount in Digital Silver.

One should wait for the Silver prices to correct and retrace to about $31 (~Rs 88500) in November/December and then accumulate precious metal at those levels.

The best way to increase allocation into precious metal is to start the SIP or increase the amount of your Silver systematic purchases every month.

Silver prices are expected to continue their uptrend in the next few months for the target of $38(~Rs 115,000) .

So the strategy should be buying on dips at the mentioned levels for a 20% upside target in the next few months.

-- Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL).