Silver prices double in the markets… and “rings” jump to 300 riyals
Saw International prices and reshaped the map of acquisition and saving of precious metals.
A field survey for “Al-Youm” revealed that the demand for silver has increased significantly, as Al-Muatasem Abdullah confirmed that silver bullion and riyals have become the preferred option for investment due to the low loss rate in them, which ranges between 10 to 20% compared to jewelry.
Silver is turning into a haven. Safe
Specialists considered that silver has turned into a safe haven for a wide segment of customers, as it has become a good option for saving and acquiring, whether for personal use or As an alternative investment tool in light of the high price of gold.
For his part, he stressed "Taher Al-Arbash" However, gold still maintains its position as the safest and most reliable option, due to its rapid rise and limited decline, describing investment in silver as a promising step, but fraught with some risks because it is a relatively new arena.
He advised "Al-Arbash" Small investors who do not have sufficient liquidity for gold should turn to silver, provided that they are patient, look at long-term returns, and do not miss potential opportunities in this rising metal.
In the same context, he explained "Abdullah Muhammad Ali" Silver is directly related to the movement of gold, but it is not a complete substitute for it due to the large difference in value, indicating that the recent rises have strengthened customer confidence in 21 and 24 karats as they are the most value-preserving.
Successive price jumps
He pointed out "Radhi Dajani" He pointed to the direct impact of price changes on men’s adornments and society, revealing that the price of a silver ring jumped from 100 riyals to 300 riyals in a short period, which reflects the extent of inflation in the prices of the white metal.
He refused. "Dajani" Providing conclusive investment advice at the present time, given the uncertainty of global economic conditions, he would only point out that bullion of all weights remains the best option for those wishing to enter this market.
He stressed "Mahimed Al-Khalafi" The price jumps prompted many to turn to silver, but the firm conviction that “gold is gold” still dominates the collective consciousness, as the yellow metal remains the most reliable and stable haven over time.
And concluded "Najib Al-Dosari" The scene confirms that silver has begun to take the status of “treasury” among a wide segment, with the diversity of its sources between Iranian, Yemeni and Indian, which has made it a competitor that is strongly present in the mind of the consumer as an available savings option.
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