Silver
However, consolidation in China's solar industry and slower growth in the world's second biggest economy could pose headwinds for silver in the near-term.
This scrutiny is part of the state’s effort to uncover what is being dumped in its landfills.
The spread between the Chinese and international silver prices has widened further during recent times.
A new list of critical minerals for Canada is expected to be published before summer 2024.
In contrast, silver physical investment is projected to record 6% decline in 2024 to hit the lowest level in four years.
Also, 22 qualified silver and gold suppliers too have tied up with IIBX to enable trading of the precious metals.
The silver jewelry demand is expected to witness year-on-year decline by 22% to 182 Moz.
India is the world's largest consumer of silver, and imports as much as 90% of its requirement (about 9,500 tonnes in 2022).
However, the demand is expected to cool off somewhat in 2023.
These new investment options could increase the demand for silver in India and ultimately impact global demand for the white metal.
Over the last decade, the only years that silver investment demand fell in India were in 2016 and during the pandemic in 2020.