India: Populace Increasingly Turning To Silver For Wealth Preservation

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Author	Replies: 5 / Views: 1,453
Joe2007 Pillar of the Community United States 3843 Posts	Posted 03/21/2016 4:13 pm India forced to take its eyes off gold http://www.cnbc.com/2013/11/01/indi...-silver.html Quote: So if Indians aren't buying gold, what are they buying? According to the local merchants in New Delhi and Mumbai—silver. It might not carry the same prestige and status, but it is cheaper and thus a good alternative. Silver shares trade at $22 an ounce, while gold shares are trading north of $1,300. Merchants are seeing strong demand this season for silver coins, up about 10 percent to 15 percent year-over-year, according to BNP Paribas Securities in India. Hi Folks, Thought that this article was interesting and worth sharing. I wonder how large of an impact that this would have since silver is relatively affordable and the population (1 billion+ in India) clamoring to buy precious metals is large. Edited by Joe2007 03/21/2016 4:15 pm Report this Post to the Staff

Cascade Pillar of the Community United States 7390 Posts	Posted 03/21/2016 6:14 pm Joe, that article is from late 2013 Report this Post to the Staff
Joe2007 Pillar of the Community United States 3843 Posts	Posted 03/21/2016 6:27 pm Opps. I wonder how it showed up in my newsfeed of recent coin related news? Darn Bing Search ..... Report this Post to the Staff
moxking Rest in Peace United States 17900 Posts	Posted 03/21/2016 7:28 pm Silver buyers in India is nothing remotely close to new, even in 2013. Report this Post to the Staff
angel2004 Pillar of the Community United States 2168 Posts	Posted 03/21/2016 7:32 pm They have been into gold and silver for a very long time. Honest mistake to post. Report this Post to the Staff
Libertad Pillar of the Community Canada 3692 Posts	Posted 03/22/2016 6:43 pm Yes the article is from 2013 but it resonates with me at this time. Last week I made 2 very heavy pieces in silver for an Indian retail store (1 and 2 ounces per piece). That's the very first time I ever got an order like that for any type of silver. Usually it's 22 karat gold, 18K gold, and 14 karat at the very minimum. I hope it doesn't become a habit. Report this Post to the Staff
	Replies: 5 / Views: 1,453

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