India Banks Start To Sell Silver Bars On May 16th

Asheron

New Delhi, May 9 (PTI) Buoyed by the success of its yellow metal retail, HDFC Bank is all set to venture into silver bar trade from next week.

"We will be selling silver bars from our branches starting from the auspicious day of Akshaya Tritiya (May 16)," HDFC Bank retail liabilities products group head Seshan Ramakrishnan told PTI.

HDFC Bank would be the first in the country to retail silver bars through its branches, he claimed.

To start with, the bank is launching 50 gram denomination silver bars, he said, adding, the bank can roll out other denominations in the future based on response.

The bank is already one of the leading players in the gold coins trade. Currently, gold coins are being sold through 1,400 branches across and last year on the Akshaya Tritiya day it sold 440 kg of gold, he said.

http://www.ptinews.com/news/645382_HDFC-Bank-to-start-silver-bar-trade-from-May-16

Asheron

Omg why so many tin foil hat people buying Silver?

lvader

You have to pay 17.5% VAT on silver bars, worst investment ever.

sabretoothtigger

iii have done article on silvers rise.

Target given is $23 , if we continue to have a poorly currency then inversely it appears to perform very well over in the uk


http://www.iii.co.uk/articles/articledisplay.jsp?section=Markets&article_id=10096649&emv_mid=1105199756&emv_rid=1012526006381

jon3001

lvader wrote: »

You have to pay 17.5% VAT on silver bars, worst investment ever.

Depends which country you're in when you buy them.