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Market veteran investor Vijay Kedia has recently issued an alert regarding gold and silver. He himself owns silver ETFs and gold bonds. But at current prices they do not want to invest further in them. Kedia said that the returns on his shares have remained stable in the last one year and he is dissatisfied.
He believes that investing in shares has been more profitable than bullion or ETFs and he will continue to follow this strategy in future also. While giving an interview to Jagran Business, Vijay Kedia mentioned an old incident. The infamous Silver Scam of the 1980s involved American billionaire oil barons, the Hunt Brothers, who invested heavily in gold and silver.
They feared that the value of the US dollar might fall. He took a loan from the bank and with the help of his associates, he bought almost 1/3 of the world's silver. In 1970, the price of silver was just 1.50 per ounce. But in January 1980 it reached $50 per dew. To stop this, the government and exchanges implemented sell-only rules and banned new purchases.
The banks asked Hunt Brothers to repay the loan but they did not have the cash. On March 27, 1980, the price of silver fell from $50 to $10. This day is called Silver Thursday. People have to do that. If I don't find flowers, I make friends with thorns. So I am not saying that yes, gold and silver are thorns.
This is just for the sake of saying, I told you that if you don't get this then that is it, but this is FOMO. This FOMO happens whenever there is such FOMO in something. It lasts for a few more days. It misleads people. People like me think that I will not buy gold and silver at this price. They too get tempted and go to take it.
When he takes it, it becomes his last moment. That becomes his peak and he corrects from there. So I feel that there is euphoria going on in gold and silver, I would like to tell you one thing about silver. Around 1985, in 84 or 856, silver was $50, and even today, silver has come down to $6 or even $.
Today silver is back to $50. So if we look at it, silver has not given any return in 40 years. If we talk in dollar terms, it did not give returns in rupee terms but in dollar terms silver did not give returns to the international traders who trade in dollar, so now after 40 years, understand that silver has reached $50, so it has a lot to grow in the future but it is not necessary that it should grow in the same race, this race keeps changing, there is some slowness and I feel that it has become euphoric, if this Fomo Omo which has happened is now equal, it may happen and it may increase by 10-20% here also, but then ultimately the same thing will happen which happened in shares, I believe so, I had also bought silver and gold.
I had taken gold bonds in three-four years. I also bought a silver ATM six-eight months ago. I don't feel like selling it. I will not sell them to them. But I won't even take it. I will work on lions. This historic event had a major impact on the world's commodity markets. Since then, position limits and margin controls have been tightened to prevent such arbitrary buying from crashing the market.
Kedia said that even today some investors are making the same mistake. He pointed out that silver prices recently reached that $ level after four decades. Along with this, now the same FOMO i.e. fear of missing out as seen in the stock market is being seen in the bullion market also. If we talk about gold, its price has increased almost 10 times in terms of rupees.
This means that gold and silver are different things and their returns are also different. Kedia believes that many stocks have given returns ranging from 2 to 10 times in the last 4 years. His advice is that investors should be patient. Investing in large cap stocks is considered safe in the next 5-6 months and people are taking interest in it.
When the market improves and the economy picks up, mid-cap and small-cap stocks will also rise sharply. Vijay Kedia is of the opinion that it is not right to rush into gold and silver right now. Investing patiently in the stock market and waiting for the right opportunity is the safest strategy at present.
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