India and Silver Price

[silverstacker]

I recently read a story through a couple of links that were provided to me on bullionstacker.com. I thought I would share one idea and open it up for discussion:

India Just Won’t Stop Buying

India imported 5,500 tonnes last year, 180% more than 2012. Imports comprised 20% of all global demand.

Last month’s silver imports were 250% lower. This was mostly due to the recent increase in import duties, and the fact that six banks got permission to import gold, which would soften purchases of me. This could partly explain why silver price has struggled.

But as long as politicians keep gold restrictions in place, Indians will keep buying silver.

[Mossy]

Big demand for Silver? Can't tell it by spot.

Then again, all they have to do is print more paper and call it "silver" or "gold".

[agnaustic]

I have a few friends from India (the perks of being a graduate student). Gold is constantly in outrageous demand over there because of cultural foundations. Even those in poverty will own some gold jewelry. They say that silver is not in such high demand, but still all precious metals usually go for 10% over spot if it is within the borders. It's difficult to profit via importation due to custom costs, though.

[Cu Penny Hoarder]

Big demand for Silver? Can't tell it by spot.

Then again, all they have to do is print more paper and call it "silver" or "gold".

All this "silver shortage" stuff is BS. Just a bunch of bullion dealer propaganda.

[InfleXion]

Gold restrictions lifted. Bulls on parade.

http://www.fastmarkets.com/north-americ ... ault-75964