Indian, US silver price arbitrage,trade sees upswing after gold curb

Indian silver prices broadly track the international market, but there are sharp variations depending on industrial demand, festive purchases and the mood of investors in the Mumbai and New York futures market as well as the spot market.

Investors buy in one market and sell in the other to make money. Silver is also a cheap substitute for gold for investors. Restrictions on gold have prompted many investors to shift to silver.