Silver Investment Prices Low, If You Can Get It
Thomson Reuters reported today that India is seeing a surge of silver purchasing in light of the very low spot price for silver.
“Indian traders may not be buying much gold with prices close to all-time highs, but are scrambling to stock up on silver that fell to its lowest in a little more than a year, dealers said.”
The article seems to imply that the people who are driving this demand are all in the jewelry business. I’m wondering how many of these buyers are buying the silver purely for silver investment purposes?
At any rate, silver can not be flown into India fast enough.
“‘Now they are not being able to arrange supplies.. whoever reaches them first or those who have good contacts are getting the little silver that is coming in.’”
With the world’s second largest population struggling to get silver, is it only a matter of time before this demand substantially drives up the price?
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