Tuesday, February 5, 2013

Increased Physical Silver Demand in Singapore

[SINGAPORE] Gold has long been the darling of Asian investors. But its lesser cousin silver may now be coming into its own as an investment asset.

Demand for physical silver has rocketed in the past few months, propelled by repeated "quantitative easing" (QE) in the US, the waiver of goods and services tax (GST) on precious metals here last October, and the belief that it is undervalued relative to gold.

Silver Bullion, one of the oldest physical silver dealers in Singapore, said its sales have tripled since last October to about $6 million a month. The firm launched trading through a website in April 2009 and has seen revenue grow from $7.6 million in 2010 to $31.5 million last year....

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