Silver jewelry suppliers are quite upbeat about the upcoming festival season and are looking forward to post their best ever profits so far. The only dark lining among these silver clouds is the rising cost of silver. In the commodity market, silver is shining quite bright and has even outperformed gold in the current bull run.The existing high demand for silver is being further fuelled by the investment sector, the industrial requirements and the jewellery makers across the globe.
The dwindling momentum within the world economy, has made the whole situation more complex as the investors are often in the dilemma on whether to invest in gold or silver. Trade analysts say that the continued increase in the silver's price can be mainly attributed to future trading.
Expectedly, the silver jewellery makers aren't too much amused with the current ballgame. In their opinion after the gold prices sky-rocketed the demand for silver started to increase, though if the silver too follows the gold's way then it wouldn't be too long before its demand begins to tumble down.
Since prehistory, silver has remained one of the favourite metal for ornaments, utensils etc. Silver jewellery suppliers confirm that in the current scenario India remains one of the lead consumers of silver and the world markets are betting big time on the upcoming Diwali season for the record breaking sales. The largest producers of silver in the world remains the USA, Canada, Mexico, Bolivia, Australia and Germany.
Overall, Indian exporters are having a field day in the current fiscal year. As per the latest data released, India’s exports have shot up by 23.2 per cent year-on-year to $18.02 billion in September. Reports further reveal that for the first half of the fiscal 2010-11, exports aggregated to $ 103.30 billion increasing by 27.6 per cent. These figures include the exports of silver sterling jewelry and thus indicates a rise in their overall sales as well.
Industry insiders unanimously say that the rise in silver wouldn't dampen the profit margins much and the current season could these jeweller's best ever so far. With all the buzz going around, its hard not to feel the excitement with a hope that the Silver jewelry exporters record the best ever season of their lives.
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