SLV

Silver Will Skyrocket If It Becomes India’s New Metal Of Choice

First, let's recap just how important gold is in Indian culture, and in the country's economy as well. From The Conversation :

This unique cultural norm means that India has, in essence, a dual currency system. On one hand, you have the official government-issued rupee, and on the other, gold. For many years, the yellow metal has been the preferred by the vast majority of people, and that's unlikely to change any time soon.

If the Indian government decides to crack down on gold holdings - as some believe they will - silver could begin to take gold's place. In fact, a trend toward silver has already begun taking hold:

Growth in Indian Gold and Silver Jewellery Demand. Source: Thomson Reuters GFMS Gold 2016 and Silver Survey 2016

How big could India's impact on silver prices be? Absolutely massive:

So while the yellow metal is still the king in India, don't discount the gray metal's prospects for growth.

The iShares Silver Trust ETF ( NYSE:SLV ) rose $0.42 (+2.65%) to $16.27 per share in Wednesday afternoon trading. Year-to-date, the largest ETF tied to silver prices has gained 23.35%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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