by Frank Holmes
Silver Seek
Strengths
— The best performing precious metal for the week was silver, up 5.66 percent. Silver has overtaken gold as the year’s best performing precious metal, reports Bloomberg, extending its gains to 17 percent on the back of a stabilizing Chinese economy. The precious metal, which is used in a variety of industrial products, is now trading at a five-month high.
— Following a strike that lasted nearly six weeks, a majority of gold sellers in India have finally reopened their doors. This is positive news for the global gold sector, which has been missing its largest buyer of the precious metal. Good news was reported in China as well, where gold demand picked up to 183.2 tonnes in March, according to Lawrie Williams. Gold demand surged in Japan too, with sales climbing 35 percent in the three months ended March 31 with the imposition of negative interest rates.