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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: bull_dozer	10/25/2011 1:07:00 AM
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India's gold and silver imports jump 80% to $31.1bn over six months Investors in India appear to be moving out of cash and into gold and silver. As poorly performing equities hit valuations, analysts and traders insist there is an acceleration in the investing community to asset switch into precious metals. Both the precious metals, gold and silver, recovered sharply in the domestic market on Friday, on fresh buying by stockists and jewellers here. While the yellow metal surged $7.49 to $538.47 for 10 grams, silver rose by around $7.99 to $1051 per kilo. Traders said revival of buying by stockists and jewellers at existing lower levels was meant to meet seasonal demand and the festival of lights coming up next week, while reports of a firming trend in the Asian region had mainly pushed up both gold and silver prices. The Indian government recently released its export figures. According to the data released by the government for April to September, imports of gold and silver rose by a whopping 80% to $31.1 billion during six months. mineweb.com

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