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Ardent Listener
3rd September 2007, 19:34
India takes a shine to silver
Mon Sep 3, 2007 3:03PM BST

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[-] Text [+] By Biman Mukherji

NEW DELHI (Reuters) - With two silver rings dangling from each ear and sporting a topaz bracelet that matches a shimmering blue shirt, 33-year-old Ashish Singh saunters into a jewellery shop to pick another bauble for his collection.

A businessman from western India, Singh trawls his favourite retailers every week on the look out for bargains -- but nothing excites him like a new piece of shiny silver.

"I have got a big box of them, but I just love silver," says Singh as he scans the shelves at a south Delhi store.

"And this bracelet, I just had to have it because it's what Salman bhai wears," he adds, an admiring reference to Salman Khan, a macho Bollywood superstar.

He's not alone.

Rapid economic growth over the last few years has created a thriving 60 million-strong urban middle class increasingly willing to splurge for pleasure.

As a result demand for fashion jewellery in affordable silver -- priced as low as $1 and up to $100 (50 pence and up to 50 pounds) --- is rising sharply in a market where purchases were traditionally in gold and for most were an investment as much as a style statement.

Buying gold would set you back ten times as much. Continued...
http://uk.reuters.com/article/worldNews/idUKDEL23044420070903?src=090307_1014_ARTICLE_PROM O_also_on_reuters&pageNumber=1

Miami
4th September 2007, 06:51
India takes a shine to silver
Mon Sep 3, 2007 3:03PM BST

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[-] Text [+] By Biman Mukherji

NEW DELHI (Reuters) - With two silver rings dangling from each ear and sporting a topaz bracelet that matches a shimmering blue shirt, 33-year-old Ashish Singh saunters into a jewellery shop to pick another bauble for his collection.

A businessman from western India, Singh trawls his favourite retailers every week on the look out for bargains -- but nothing excites him like a new piece of shiny silver.

"I have got a big box of them, but I just love silver," says Singh as he scans the shelves at a south Delhi store.

"And this bracelet, I just had to have it because it's what Salman bhai wears," he adds, an admiring reference to Salman Khan, a macho Bollywood superstar.

He's not alone.

Rapid economic growth over the last few years has created a thriving 60 million-strong urban middle class increasingly willing to splurge for pleasure.

As a result demand for fashion jewellery in affordable silver -- priced as low as $1 and up to $100 (50 pence and up to 50 pounds) --- is rising sharply in a market where purchases were traditionally in gold and for most were an investment as much as a style statement.

Buying gold would set you back ten times as much. Continued...
http://uk.reuters.com/article/worldNews/idUKDEL23044420070903?src=090307_1014_ARTICLE_PROM O_also_on_reuters&pageNumber=1

Good Post and info!:D

Ardent Listener
6th September 2007, 19:05
1 of 1Full SizeBy Ruchira Singh

MUMBAI (Reuters) - India's silver dealers say demand has improved since last month and is expected to strengthen in the current month as manufacturers gear up to meet the upcoming festive demand.

"Demand for silver should rise by 15-20 percent compared to last year," said Harshad Ajmera, proprietor of JJ Gold House in Kolkata. "If prices stay down, it could even be more than that."

Ajmera said demand for the white metal revived about four weeks ago but has currently dropped after the previous day's price jump of over 1 percent.

However, demand is expected to pick up in a few days when buyers adjust themselves to the new price levels, Ajmera said.

On Wednesday, spot silver in Mumbai was quoted at 17,200 rupees per kg, up from 17,000 rupees the previous day. Last year on Sept 5, silver was priced at 20,000 rupees.

"If prices start coming down, sales will boom," said Ajay Singh, partner at Kiran Jewellers in Jaipur.

Singh said the ideal price for Indian silver buyers was 15,800-16,000 rupees.

"If current prices stay firm, demand will be thin," he said. Continued...


1 of 1Full SizeSilver typically sells during the festival season for investment with people buying coins or gift items such as utensils or idols.

Dhanteras, falling on Nov. 7, is the biggest silver buying day.


RURAL DEMAND

A large silver wholesaler in Mumbai said a good monsoon this year bodes well for rural demand for the white metal.

"Rural demand has already picked up," said Harish Kewalramani of Vishindas Gianchand & Sons, the silver wholesaler in Zaveri Bazaar. "At least people are calling up this year."

An analyst, Ashish Karel of MF Global, said silver prices could correct from current levels in the wake of possible gold sales by the European Central Banks that face a Sept. 26 deadline under a pact.

"At the end of September, silver could rally again and that could last till the end of the year," Karel said.

A U.S. Federal Open Market Committee meeting on Sept. 18 would be watched for its impact on precious metals. Any cut in rates, or hints of a future cut, could propel precious metals higher, Karel said. Continued...


Karel said till the third week of September, the benchmark December contract on the Multi Commodity Exchange of India Ltd. (MCX) could trade within 16,500-17,400 rupees.

It may rise thereafter to 17,700-18,000 rupees.

December silver traded on MCX at 17,156 rupees, down 59 rupees over the previous day.
http://in.reuters.com/article/businessNews/idINIndia-29355720070905?pageNumber=3

Miami
6th September 2007, 19:41
India takes a shine to silver
Mon Sep 3, 2007 3:03PM BST

Email this Article |Print this Article | RSS
[-] Text [+] By Biman Mukherji

NEW DELHI (Reuters) - With two silver rings dangling from each ear and sporting a topaz bracelet that matches a shimmering blue shirt, 33-year-old Ashish Singh saunters into a jewellery shop to pick another bauble for his collection.

A businessman from western India, Singh trawls his favourite retailers every week on the look out for bargains -- but nothing excites him like a new piece of shiny silver.

"I have got a big box of them, but I just love silver," says Singh as he scans the shelves at a south Delhi store.

"And this bracelet, I just had to have it because it's what Salman bhai wears," he adds, an admiring reference to Salman Khan, a macho Bollywood superstar.

He's not alone.

Rapid economic growth over the last few years has created a thriving 60 million-strong urban middle class increasingly willing to splurge for pleasure.

As a result demand for fashion jewellery in affordable silver -- priced as low as $1 and up to $100 (50 pence and up to 50 pounds) --- is rising sharply in a market where purchases were traditionally in gold and for most were an investment as much as a style statement.

Buying gold would set you back ten times as much. Continued...
http://uk.reuters.com/article/worldNews/idUKDEL23044420070903?src=090307_1014_ARTICLE_PROM O_also_on_reuters&pageNumber=1

Mabe know we can get that gold/silver ratio back to where it's suppose to be 15:1