MASSIVE INDIAN SILVER IMPORTS: Setting Up For Another Big Record Year
Wednesday, December 3, 2014 at 11:01PM
Silver Prices

 

With the paper price of silver now below the break-even for the majority of the primary silver mining companies, India imported a massive 1,243 metric tons of silver in October alone.  What is quite interesting about this figure is that it comes in at one metric ton shy of the previous record set in May, 2011 at 1,244 mt (Source: Koos Jansen article).

Why are these two records interesting?  Because, the huge imports in October were a result of a new low price in silver, while the record set in May took place when silver was at the opposite all-time high.  When the price fell like a rock in May, 2011 (from a high of $49 after 5 consecutive CME Group margin hikes), investor in India thought this was a great bargain.

Of course, the Fed and Central Banks had another plan for gold and silver… three years worth of gut-wrenching declines.   Total Indian silver imports in 2011 were 4,120 metric tons (mt).  As the price of silver continued to drift lower, demand for the shiny metal in India declined significantly in 2012 to a mere 1,922 mt.

Read more...

 

Is the bottom really in? Could there be a final capitulation just ahead of us? Are you long or short right now?

If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

 

Winners of the GoldDrivers Stock Picking Competition 2007 


Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

If you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.

Please remember to check your spam folder once you have subscribed to ensure that our verification email has not gone astray and you are getting our emails.

Article originally appeared on Silver Prices (http://www.silver-prices.net/).
See website for complete article licensing information.