Edible silver leaf is a traditional decoration for candy in India.
(1888PressRelease) November 01, 2011 - MIAMI, FL - Edible silver leaf is traditionally used to wrap candy sold during the Indian festival of Diwali and this year has seen no reduction in demand despite a significant increase in the price of silver. Silver leaf is used to wrap traditional festival candy such as kaju katli and is also used as decoration for chocolates and cakes. Indians believe that silver, which is supposedly tasteless, has therapeutic health benefits in addition to making food look pretty.
Silver is also a favorite choice for gift giving, after gold, during Diwali. Sales this year have been exceptionally high for both silver and gold coins and jewelry. A further development in India has been the installation of 75 gold, silver and jewelry ATMs; in reality, basically precious metals vending machines, in airports and major shopping centers. If there were any doubts remaining that this is a country obsessed with the accumulation of gold and silver, this new development would surely put an end to them. In fact, India is the world's largest net buyer of gold bullion.
"This year's festival season in India has seen increased demand for both gold and silver," says Bill Hionas. "Many people expected a reduction in demand due to the increase in price since last year but the only trend we have noticed is that there has been a preference for giving gold and silver coins rather than jewelry."
India has a rapidly growing middle class that places great value on gold and silver. Gold and silver bars, coins and jewelry are traditional gifts during the Diwali festival of lights.
About Bill Hionas:
Bill Hionas is CEO of Pan American Metals of Miami, LLC, a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Edible silver leaf is a traditional decoration for candy in India. 
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