New Delhi, Jan. 5 -- Silver has always been a symbol of purity and prosperity in India. Traditionally, silver items such as coins, utensils, decorative articles, statues and idols are gifted on special occasions. Indian craftsmen have raised silver jewellery into a fine art: intricate filigree and embossed work from regions like Jaipur, Cuttack and Kutch are sought after around the world. In fact, the word for our national currency, the rupee, is derived from the Sanskrit work rupyakam, which means wrought or shaped silver.

The deep cultural connect to silver endures to this day-India is one of the largest consumers of silver in the world. Yet, silver has usually been seen as inferior to gold: respected but less valued; the metal of choi...