$58-60 silver price by September says Dubai silver trader

Pop down to the Old Gold Souk in Deira, part of the modern city of Dubai and the hottest selling item is a 1kg bar of silver these days.
Karachi Jewellers told ArabianMoney yesterday they are selling 600 to 700 of these $1,300 bars each month with a 4.1 per cent profit margin.

More profitable than gold

‘It is far more profitable to trade silver than gold where the margin is much smaller,’ said director Ejaz Ilyas in a video to be broadcast on this website tomorrow.
‘We get a lot of passing tourists who buy 1kg silver bars. I was born in Dubai and spent most of my professional life in London but business is better here now. Even a modest shop in this souk does well.’