Starved of gold, Indians may turn to silver

With the Indian government discouraging gold purchase by making it more scarcer and dearer, Indians seem to be turning to silver.

MUMBAI:  Indian silver imports are on pace to hit a record high this year as the wedding and festival season drives up buying of the precious metal instead of the traditional gold, which has been made scarcer and dearer by official measures aimed at cutting the trade gap.

Higher silver demand in the world's biggest buyer may help support prices, which have fallen almost 30% this year on the international market and are on track for their biggest annual drop in almost three decades.