In a September 28, 1929 BusinessWeek article titled, “Silver Is Cheap” is the following commentary:
“The price of silver fell to $0.50375 U. S. cents per fine Troy ounce, the lowest price touched since Sept. 18, 1915.”
“India and China are the markets for the silver of the world and, as they prosper or keep the peace, silver rise[s]…”
The argument for India and China as a catalyst for the potential rise in the price of precious metals has been around for a long time. However, the reality is very different from what is hoped for.
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