by Shivom Seth: Festival season in India has picked up pace with Onam, a spring festival celebrated with much gusto and, given the high price of gold, people are buying silver to mark the ocassion. Good rains have brought good tidings, especially for the silver market.
While demand for gold in India has picked up significantly over the last couple of days, it is the rising demand for silver that has tongues wagging.
Though India is generally believed to have a ravenous appetite for gold, it is also a major consumer of silver. Of the 4,000 tonnes that India used to import annually, around 2,600 tonnes was used to make jewelery and ornaments......read on
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