Monsoon Plays Truant in India, Silver Demand Slides

Mineweb reported that ongoing monsoons in India have a negative effect on silver demand.

The market news is quoted as saying:

With the country consuming over 3,000 tonnes of silver annually, silver is considered a hedge against inflation in rural India. Far more affordable than gold, it is purchased by small families in the form of jewellery, while more wealthy farmers prefer to buy silver bars.

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