Imported silver that comes to our country from Dubai is generally traded in an illegal way. The shopkeepers and people who work in the jewelry business usually keep 1 kg of silver with them and buy and sell it, earning daily profits.
Although this is considered an illegal activity, many people here are doing it and making good profits from it.
I spent a lot of time learning about this business and trying to understand how these people make profits. During this process, a very good idea came to my mind and I thought I should discuss it with you all.
Recently I bought a 1 kg silver bar that cost me around 620,000 Pakistani rupees. Since I am involved in crypto trading and also interested in metal trading, I regularly follow silver charts and can often estimate whether the price is likely to move up or down.
I bought the silver at around $63 and now it is trading near $68 which means I have already made about 6–7% profit.
The strategy that came to my mind is very interesting and can potentially provide a good opportunity to benefit from market movements.
On Friday, when the international gold and silver markets close I check what Bitcoin does over the weekend. If Bitcoin pumps or dumps on Saturday and Sunday, it gives me a useful signal because the gold and silver markets are closed during that time and are not reacting to any new developments.
For example, if Bitcoin pumps over the weekend, I can go to the local market and buy a 1 kg silver bar. On the other hand, if Bitcoin dumps I can sell the silver bar that I already hold.
The reason is that when the market opens on the first trading day of the week, silver prices often react strongly and this can create a profit opportunity.
Another approach is that if I see Bitcoin pumping over the weekend, I can buy gold or silver on Binance at the current price on Sunday evening.
When the market opens the next day, gold and silver may initially follow Bitcoin’s movement and make a quick 1–2% move upward. In that case I can secure my profit before higher volatility begins.
In this way I believe it is possible to earn from gold and silver using a relatively simple method. The important thing to remember is that while metal markets are closed during the weekend, Bitcoin continues trading. Because of this, Bitcoin can sometimes provide an early indication of where metals might move when markets reopen.
If Bitcoin pumps and holds its gains, metals may also move higher on Monday. Likewise, if Bitcoin dumps, metals may also decline when trading resumes. This can provide an advance signal that traders may use in their decision making.
I am not a financial advisor. I am simply sharing my own market understanding and experience with you.
I hope you guys will like this post and is interesting as well. If you find it informative then dont forget to give me a support. Share you reviews in the comment section below. Thank you all for your time reading the content.
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