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Our Bureau

Mumbai Nov. 22

WITH silver trading over $8 an ounce, the importance of this precious metal as an industrial and investment metal is coming to the fore again.

The whopping rise of over 60 per cent - silver was trading at an average of $4.87/oz in 2003 - in two years is evidence of it being a key ingredient in many industrial applications.

According to GFMS Ltd, there is more upside than downside to silver in 2005.

Silver investment has witnessed resurgence so far in the fourth quarter of this year as new highs continue to be achieved due to stronger base metals and gold prices.

Industrial fabrication is projected to rise by six per cent in 2005, while the increase in industrial demand is attributed to rise in global GDP and the continued strength of the electronics sector.

GFMS has also forecast a 14 per cent increase in jewellery and silverware demand for 2005.

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