Credit: Maxpixels
India, being the largest consumer of gold and fourth-largest consumer of silver highly influences the trade of precious metals. Winter is the season full of festivals and festivals in India are closely related to buying precious metals. Hence, the winter triggers the transactions of precious metals in the Indian market and influences the price movements of gold and silver. Continue reading
Credit: Maxpixels
The US debt crisis and European economic woes have sent the silver trading industry into a turmoil as prices kept on declining through much of August. Traders and investors are grappled with fear since the current crisis could cause a decline in demand for industrial silver. Another interesting point that has come forward is the growing inflation rate in China, hindering a country’s growth that along with Brazil and other developing countries has until now ceased further recession dips. Continue reading
PD Photo / US Department of Treasury
The slowdown of economic growth in the US and China along with the mountain of debt in the Eurozone has the global economy tottering on the edge of a recession similar to the one in 2008. Similar circumstances have elicited panic, driving down global markets. However, the precious metals gold and silver showed gains, though the performance of silver was not as impressive as of gold. Compared to last year the demand for gold increased by 3.23 percent while that of silver increased by 1.85. The less demand for silver is a possible indicator for the slackened demand for silver in industrial purposes. Continue reading
Creative commons / Unit 5 / CC-BY-SA 3.0
The prices of silver kept on rising in mid-July and reached about $40.55 per ounce. However, spot silver prices fell on July 19 and touched $39.53 per ounce because of cut down by $1.022. Many analysts believe that another reason for fluctuating silver price is as a result of investors’ reactions who are concerned about the approaching August 2 deadline for the Eurozone debt, the US debt ceiling and the US Federal Reserve hinting at the third round of quantitative easing (QE3). As a consequence of the market scenarios, the prices of silver might be changing. However, the long-term prospects for valuable metals just like silver are profitable because of debt and loose monetary policies which are there to stay. Continue reading