Silver Price UK GBP [ounce]

Silver Price UK [Kg]

silver price uk silver price uk kilo
30 Day Silver Price [GBP]
5 Year Silver Price [GBP]

Live Silver Price UK

Update live Silver charts
Silver Price charts are in
UK GBP Pound Sterling.
Silver price uk per ounce
and kilo.
Charts update automatically.

China: Could Silver be the new Gold?

Monday, 13 June 2011

China: Could Silver be the new Gold?
China encourages silver as an investment

China: A key player in the silver World

silver chinese panda
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.

Analysts have said that the economic situation across the globe - a slowing US economy, Europe's debt crisis, a weak dollar - may all help life the fortunes of the white metal.

Reports indicated that US payrolls grew at the slowest pace in eight months in May, and the dollar has slid to a one-month low against six major currencies. Silver and gold will definitely rise as both the precious metals move in tandem with the negative data,'' said Sonamull Shah, bullion retailer.

Moreover, with the news that China Universal Asset Management Company has got the go-ahead from the nation's financial market regulator to start a fund that will invest holdings in overseas exchange traded products backed by precious metals, traders insist that precious metals are set to get a fillip.

Both traders and analysts have been tracking news and data emanating from China to understand how the silver price will move. But, it is not just China.

Reports have indicated that Turkey imported 25.7 tonnes of silver in May, up from 61 kilograms in April. The surge shows that Middle Eastern demand for silver, which has not been noteworthy to date, may soon become an important catalyst for higher silver prices.

Read the full article on Mineweb.com

0 comments:

Post a Comment

SilverPriceUK.com uses a strict comment form policy. All abusive, explicit and non relevant comments and/or links will be removed from the site. SilverPriceUK.com is not affiliated with comment authors and comments made. Please add to the website by portraying your views and thoughts on the subjects featured on SilverPriceUK.com

 
 
 
silver price uk-jones on gold-silver Watch: Jones on Gold and Silver Gold and Silver are the best tools for retaining wealth. Watch as Jones explains the fundamentals.
silver true store of value Silver, a true store of value From ancient currencies, to massive industrial usage. Silver is still one of the top stores of value.
Connect with us! silver price uk on twitter silver price uk on Flickr silver price uk on facebook
 
Silver Price UK world map

Live Silver Spot Prices in GBP

SilverPriceUK.com provides a silver spot price checker in GBP. Prices are live. Trading will cease at Weekends, markets will be closed.
Finance and Money | Share dealing accounts | Mortgage Copyright © 2010 Silver Price UK >Privacy Policy
>E-mail