More Good News...Silver trading gathers momentum
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Wednesday, April 5, 2006 (Mumbai):
The Gods are smiling on silver traders as the white metal outshines its more illustrious rival.
Silver fetched 63 per cent returns in the last fiscal, while gold yielded 37 per cent. Experts feel the metal is going to keep shining for months to come.
"Silver has long way to go. The $11.95 mark is only a 22-year high, and not an all-time high. It will go even higher, as the market undertone is extremely bullish. It could go up to $18 or 20 this year," said Tanmoy Jadhav, Chief strategist, Alpha commodities Exchange Private Limited.
Silver trading is the flavour of the season across the world, and an increasing number of exchanges are introducing the metal on their list of commodities. New silver-linked options, like Barclay's upcoming equity traded fund for silver has only added to the bullish sentiment.
The bull run and bullion are running hand-in-hand in Indian markets, and investors are putting aside a substantial part of their money for alternative investment avenues like silver and gold.
Given the robust demand and very little addition on the supply side, it seems likely that the metals will continue to shine in Indian investors' portfolios.
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