Realcent.org

68Camaro wrote:The big unknown is whether a real shortage in physical is imminent. Some are claiming that the outflow of physical to both India and China have been stupendous and is just accelerating, and that is extending even to silver - what with India making it difficult to buy gold some there are now switching to silver. If that data is real they alone are buying far more than can be produced and that could blow PMs off the chart sooner that a TA would suggest.

I just read some data on India. It said that India, last year (in the) first five months, imported 1,900 tons of silver. So far this year they have imported 2,400 tons. Now to understand the significance of this I have to tell you that the amount of tons (of silver) mined (annually) is 25,000.

At 2,400 tons in the first five months, you are basically talking at least 5,000 tons (of silver) for the whole year. That would be 20% of the world's (annual) silver production. And this is not going into industrial uses. This is going into savings (for investment purposes).

And there is only a certain percent of the silver market, which can go into savings because a lot goes into industrial. But here is the 'piece de resistance,' they said (India) imported 720 tons in April (annualize 8,000 tons). In May it went to 900 tons, annualized call it 11,000 (tons). We're going from 1,900 tons (of silver Indians were purchasing) to 11,000 tons, in a 25,000 ton market. That's impossible. There's not that amount of silver available for investment.