Silver coin supplies buckle on fever-pitch retail buys
by Myra P. Saefong at MarketWatch
…Silver is a “more accessible investment to individual investors because of its relatively lower cost,” said Edmund Moy.
And the “out-of-the-ordinary” world demand is likely due to the “continued caution investors have in the fragile state of the world economy, the relatively lower price of silver, growing industrial demand as well as the large numbers of [a] new middle class wanting to diversify their assets, especially in Asia,” said Moy, who was director of the U.S. Mint from 2006 to early 2011.
Growth in silver demand from India comes on the back of the nation’s government efforts to severely restrict gold imports, which have had a big impact on the country’s trade deficit.
India recently doubled its silver imports, Moy said, and while gold remains the preferred asset for portfolio diversity among the new middle class in India and China, silver has become more popular with those who cannot afford gold yet. …
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