Experts believe that India's imports are likely to support global silver prices, which is currently priced at just above $30.50/r ounce. It is further estimated that the demand for silver and sterling silver jewelry will grow stronger in this year specially around the festival season.
There have been reports that china and India are the two major forces who will drive the demand for silver jewelry in this decade. As per the latest statement issued by Bombay Bullion Association, imports of silver rose by nearly 25 percent in 2010.
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Worldwide, the jewelry industry is on the rise. The two most exciting segments within the jewelry industry, which holds the promise of a bright future are sterling silver jewelry and beaded fashion jewelry. Lets analyse the silver sterling jewelry segment first.
inexpensive jewelry sets |By Amit Saxena on April 09, 20110
However, not much is lost as the trade analyst continues to portray a rosy picture for the upcoming times for the Indian gem and jewelry traders, which could post a 17 % growth Y-o-Y. Hopefully the indian gems and jewelry suppliers will take a cue out of its global competitors and emerge as a stronger entity.
One of the interesting aspect of the Chinese silver market is that the silver is costlier in its domestic circuit as compared to what is exported internationally. This signifies the high rate of consumption, which further acknowledges the fact that China will be the key driver for the demand and supply of silver sterling jewellery .
In reference to beaded fashion jewelry, it is performing well as per the industry's expectations. However, the upcoming times could be a bit difficult. Reports suggest that some of the African nations (one of the major source of importing beads etc.) have decided to put up a cap on the export of such materiel in the midst of civil strife.
Another report released by China Research and Intelligence Co. (CRI), establishes the fact that China is now one of the most important silver suppliers in the world. As per the latest stats available, its total mineral silver and regenerated silver output was around 10,348 tonnes.
The Indian gems and jewelry association has made an effort to streamline the supply but not much progress has been made. Most of the beaded fashion jewelry suppliers, source their raw material from Africa ( specially from Namibia, South Africa and Tanzania) and are duly concerned about the current problem.
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