Sterling Silver Jewelry Exporters Optimistic For 2011
Silver, like any other commodity, has an intrinsic value, which is not arbitrary, but is dependent on its scarcity and the quantity of labour bestowed in procuring it - David Ricardo
Metals don't lie, at least not in the commodity market. Experts believe that silver will rise exponentially in the next few months. The rise in the price would remain a matter of intense debate both for the investors and the jewelry makers. A recent report released in UK observed that - " This year's consumer demand has already reached its all-time high, which is 5% more than last year's volume. In 2010, jewellers bought 10% more silver while the industry increased its consumption by 18% as compared to 2009."
Many forecasters believe that investing in silver may turn out to be more profitable than investing in gold, shares or government bonds. Since the beginning of 2010 the price on silver has gained 46% , delivering better ROI than other metals, including gold.
Sterling silver jewelry manufacturers are unanimous about the surge in demand and are keeping their fingers crossed in anticipation of higher profits. However, a small section of exporters also fear a backlash, in case the price reaches beyond the affordable limits.
Trade pundits acknowledges that Indian silver jewelry has become a hot property among the fashion lovers worldwide. Most people prefer to go with classic and modern designs which not only compliment their looks but also helps them make an original style statement. The young spenders usually prefer funky designs and styles specially in sterling silver necklaces, watches, silver bracelets and earrings.
Industry insiders also add that in 2011, there would be specific demand for silver chains and interlocking hoops. Though some experienced jewelry makers suggest, as has been the case in the past, ethnic influences would continue to remain strong.
Celebrities from all over the world can often be seen flaunting their sterling silver masterpieces giving a huge push to the already rising demand of silver jewelry. With the availability of new funky themes and unique designs, it has carved a niche of its own in a short span of time. It can be said with great conviction that, sterling silver jewelry has succeeded in setting up new benchmarks in the world of jewelry industry.
On the domestic front, most of the research reports and expert's opinion have painted a bright picture for Indian silver jewelry market. Indian silver jewelry exporters too are confident of better prospects next year. It would be of great interest to watch if their performance actually lives up to the expectation in 2011 .
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