China the Reason for Rise in Sterling Silver Pricing

Last week Sterling Canyon reported that the price of Sterling Silver, the stuff that your favorite necklaces and earrings are made of will be increasing in price.  It was disclosed that the reason for this increase, in addition to market speculators, is the increasing demand from China and India.  Shipments to these countries have increased by 25% over a year ago.  It is well known that these two countries have a large market for cheap low grade Sterling jewelry.  They wouldn't want to stab themselves in the foot by causing the increase in silver prices, thereby increasing the cost of their jewelry. Silver closed today at $30.50 per ounce.  A year ago it hovered around $17 per ounce.  Sterling Canyon continues to refuse jewelry made in China or India.  We prefer European and the United States craftsmen.  You should too.