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More and more Indians are now getting lured by the glitter of bullion as the precious metals ensured better returns for investors in 2010 than the stock markets.
According to reports, with global economy giving mixed recovery signals, investors have put their faith in time-tested precious metals like gold and silver in India.
Among the two metals, which are hovering at all-time peaks, silver has slightly outdone gold in the current calendar year. Since January, the BSE Sensex has grown by 6.21% as on September 6.
During the same period, gold grew by about 13.33% while it was silver that glittered in investors' portfolios with an appreciation of over 16.71%.
Analysts say equity indices across the globe have moved in a narrow range in the current calendar year on account of hazy global economic recovery - the year began with the Euro crisis. This has forced investors to look at gold and silver as investment instruments.
In the times of market uncertainty, people park their money in gold considering it as a safe bet. This time, however, investors have been equally bullish on silver.
Silver is being seen as both a precious as well as base metal, with increasing industrial application. Whenever economic growth indications were favourable, people bought silver as a base metal. And, in times of uncertain economic outlook, investors favoured silver as a precious metal.
Investor demand coupled with increased industrial use has lifted silver prices. Analysts say silver's use in electrical industries has grown by almost 25% in the last one year.
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