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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (2403)	1/13/2000 11:48:00 AM
From: lorne	Respond to of 8010

Dipping prices may shore up silver demand from India Anshuman Daga MUMBAI 12 JANUARY SILVER demand from India, the world's largest consumer, is expected to get a boost if international prices fall to around $5.0 a troy ounce, traders said on Tuesday. “There has been no great change in the local demand pattern for silver,” said K K Agarwal, proprietor of New Delhi-based Tirupati Jewellers. “However, if prices decline below $5.0 in world markets, we could see a smart pick up in demand,” he said. At 1130 GMT, spot silver was quoted at $5.15/$5.17 a troy ounce, up from Monday's New York close of $5.13/$5.16. “People expect prices to fall further and that's when we might see higher demand,” said Satish Bansal, director at MD Overseas, Silver prices in Bombay have fallen over 2 per cent in the last week, tracking losses in international markets. On Tuesday, silver was quoted five rupees higher at 8,100 rupees per kilogram. Some traders said large silver imports by banks across various Indian centres had made it difficult to estimate overall demand patterns in the country. “Quite a number of people are now directly buying silver from banks. New Delhi used to be the major place for imports, but now imports are being spread over different centres like Jaipur (Rajasthan state), Hyderabad (Andhra Pradesh) and Madras (Tamil Nadu),” Mr Bansal said. —Reuters economictimes.com