Premium on silver has doubled in the Indian bullion market in the past one week as supply has fallen due to aggressive buying by China, which is buying the metal for industrial usage. Also, the demand for silver jewellery from the US has pushed up the demand for the metal in India, which has witnessed a massive 186.23 per cent jump in silver jewellery exports in April 2019, compared with the same month last year.
The current gold:silver ratio, which stands at 90, is expected to give a push to silver prices in the coming weeks, feel analysts. The ratio measures how many ounces of silver it takes to buy an ounce of gold. On Monday, gold was hovering around $1,328 per troy ounce, while silver was trading at $14.98 per troy ounce.
There is every possibility of silver prices going up any moment. The metal is underpriced and it can rally in the coming weeks,” said Gnanasekar Thiagarajan, director, Commtrendz Research.
The metal is hovering between Rs 36,500 per kg and Rs 37,000 per kg. There is more or less stability in price movement which is attracting investors,” said Mukesh Kothari, director, RiddiSiddhi Bullion.
The Silver Institute has predicted sentiment to be more supportive of the silver market this year. Silver demand for industrial fabrication, responsible for approximately 60 per cent of the total demand, is forecast to rise modestly this year.
Silver demand from brazing alloys and solders as well as electrical and electric applications is expected to rise again this year. This is on the back of continued demand from the automotive sector.
Jewellery demand is expected to record a solid year of growth in 2019, according to the Silver Institute’s report. In the US, silver jewellery will remain a popular alternative to lower cart gold, driven by many issues. Globally, silver jewellery is expected to continue to expand due to its diversity of design, fine quality and excellent retail margins.
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The current gold:silver ratio, which stands at 90, is expected to give a push to silver prices in the coming weeks, feel analysts. The ratio measures how many ounces of silver it takes to buy an ounce of gold. On Monday, gold was hovering around $1,328 per troy ounce, while silver was trading at $14.98 per troy ounce.
There is every possibility of silver prices going up any moment. The metal is underpriced and it can rally in the coming weeks,” said Gnanasekar Thiagarajan, director, Commtrendz Research.
The metal is hovering between Rs 36,500 per kg and Rs 37,000 per kg. There is more or less stability in price movement which is attracting investors,” said Mukesh Kothari, director, RiddiSiddhi Bullion.
The Silver Institute has predicted sentiment to be more supportive of the silver market this year. Silver demand for industrial fabrication, responsible for approximately 60 per cent of the total demand, is forecast to rise modestly this year.
Silver demand from brazing alloys and solders as well as electrical and electric applications is expected to rise again this year. This is on the back of continued demand from the automotive sector.
Jewellery demand is expected to record a solid year of growth in 2019, according to the Silver Institute’s report. In the US, silver jewellery will remain a popular alternative to lower cart gold, driven by many issues. Globally, silver jewellery is expected to continue to expand due to its diversity of design, fine quality and excellent retail margins.
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