Indian Farmers Flocking to Silver

Mineweb reported that Indian farmes are electing to buy silver over gold because of more favourable pricing.

As quoted in the market report:

Ahuja said most of the farming community across Haryana and Punjab in North India, were buying silver as a cheaper alternative to the more expensive gold for investment purpose. “The trend began at the end of 2010 when silver prices started rallying to a 30 year high. The price of silver has great potential to go even higher this year. Plus, most shops have been showcasing exquisite silver jewellery items. The lure is too much,” he added.

To view the whole Mineweb report, click here.