Silver in China could turn out to be the new gold

Author: Shivom Seth
Posted: Friday , 10 Jun 2011

MUMBAI -

Silver is searing hot in China as imports are set to hit a new high. The white metal's widespread use in industry and jewellery has ensured that though commodities may drift lower in the near term on worries about the global economy, the silver market is likely to remain bullish, maintain analysts.

``For the first time, China's net imports of silver hit a record high as they quadrupled in 2010 to 3,500 tonnes. Though many commodities have been affected by softer Chinese and US economic data and worries about Greece's debt, in China silver continues to be strong,'' said a bullion analyst with a foreign brokerage house here......read on