As outlined by All Sindh Sarafa Association sale of silver products at jewelry shops soared to a new high and keen business in silver was also observed in select parts of the country.
Individuals are forced to buy silver as it is regarded as “the next best thing”, they said. Much like big neighbor India, silver prices in Pakistan climb steeply at the start of the festival season and also throughout the wedding season.
The main reason powering this is that gold has rose to such a level that people have to buy silver jewelry.
As the Pakistani marketplace is more middle class oriented the escalating price associated with gold has made it difficult for them to use.
Gold decorations have taken a serious hit in Pakistan because the prices in the last few years as have soared as well as jewelry buyers are either shifting to silver or white gold or even completely postponing their purchase”, experts said.
They added that surging prices of precious metals may not produce significant imbalances in the short term, because Pakistan central bank holds supplies worth hundreds of millions in gold silver, the net effect associated with receipts and withdrawals is actually consistent.
Analysts point out that there's a lack of well-developed marketplaces in Pakistan for alternative investments, though gold and silver are fairly liquid in local markets. Time to buy gold and buy silver and hold for the long-term safeguards for your nest egg. How high will silver go? Learn more >> http://gold-