This is a blog post I wrote for the Silver Price blog about the silver price in Ahmedabad.
Ahmedabad has always been a hot spot for gold, but the silver price is skyrocketing. The silver price has been climbing for ten years now, and I’m not sure why. Maybe the Indian government is trying to encourage the price rise by making it cheaper to store silver. Maybe other Asian countries are also trying to increase the silver price through monetary policy and the increased demand for silver. Maybe they’re just trying to buy up more land for silver mining and to build huge warehouses.
You could always blame the Indian government. I would think that if India were to implement such a policy of artificially increasing the silver price, the market price would also be artificially increased as gold and silver prices were already artificially increased by the Indian government. The silver price would not only continue rising, but it would also cause a major bubble and crash, which is exactly what happened.