Silver bar demand drops due to demonetisation, high prices
The Dollar Business Bureau The government’s demonetisation move last November to crackdown unaccounted money along with the higher prices affected the demand of silver bar in the country leading to a drop in global silver bar investment by almost half in 2016, said a survey. In 2016, silver mine production globally witnessed its first drop since 2002, declining by 0.6% last year to an overall of 885.8 million ounces (Moz), said the World Silver Survey 2017 that is released by Silver Institute and published by the GFMS Team at Thomson Reuters (GFMS) on its behalf. A major proportion of the decline was due to the zinc/lead and gold segments, where output dropped by 15.9 Moz. Overall physical silver demand fell by 11% in 2016 ...
Global gold demand up in July-Sept; India tops buyers chart
The Dollar Business Bureau Increased buying of coin, bar and jewellery prompted by fall in price triggered an 8% surge in the global gold demand during July-September, with Indian jewellery consumers leading the charge, the World Gold Council said on Thursday. The gold demand climbed to 1,120.9 tonnes, it said, as bar and coin demand drove gains mainly due to bulk buying from central banks across the world. The demand for jewellery grew 6%. In India, the demand of the yellow metal was highest in the form of jewellery as compared to bar and coins. The demand increased by 15% in the last quarter to 211 tonnes, up 26.9 tonnes year-on-year and equal to the level of 2008. In this segment, India ...
