HDFC Bank to sell silver bars from May - exec

HDFC Bank will sell silver bars during a May local festival for precious metals purchases, the first time ever by a bank, as demand picks up, a top executive of the bank said on Monday.

Silver is a small, tight market. Any marginal increase in physical demand (foreign or domestic) will pressure the paper markers (futures, ETFs, etc). It is the paper markers that control the market.

Silver continues to represent the consequences of the actions taken to prevent a debt collapse after the latest hemorrhage phase. The chop under $25 will eventually give way to the upside.

Silver, London P.M. Fixed:


Source: in.reuters.com