India Silver Demand Returns at Massive Levels
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Silver bullion bulls like you and me, those who pay attention to the fundamental physical drivers of the spot silver price market, have been waiting for some time now for one of the world's largest silver bullion demand markets to awaken from its pandemic slumber.
The nation of India, which averaged annually over 171 million ounces of silver bullion demand throughout the 2010s, has been all but gone since the pandemic hit the global economy in early 2020.
You can see this chart of Indian silver import volumes updated through August 2021 reflects the absence of Indian silver demand over the last one and a half years.
Well, that has now changed, with India having taken over 50 million ounces of silver bullion imports recently in September and October 2021 combined. October 2021 reached close to 1,000 metric tonnes of silver imports.
Remember how gold-silver bull markets typically operate for the so-called poor man's gold called silver. Often the climbing price of gold gets so high and costly that would-be buyers switch their preference to cheaper silver bullion buying as it offers many of the same attributes but at a better value.
This action in the aggregate kicks off the outperformance of silver versus still well-performing gold values and tightens the gold-silver ratio toward historically lower levels.
This week, the Silver Institute made headlines, forecasting that silver investment demand is now at six-year high levels and climbing. They failed to mention what will happen if India keeps up its torrid silver bullion importing pace.
We will further examine their report a bit later in this week's update.
Remember too that only in early February, Metals Focus admitted that the City of London's unsecured silver bullion warehousing inventory levels were almost completely exhausted: • Silver Bullion London Supplies Almost...
With India returning in earnest to the silver bullion demand fray and the four major contributing factors driving silver demand the world over, it is hard not to see silver as perhaps the most asymmetric bet of this decade going forward at these historically undervalued spot price levels.
Not to mention the world is likely sleepwalking into a crisis of fiat currency confidence which should drive heavy momentum and safe have capital flows into the physical and derivative precious metals complex to come.
This is why only a few days ago, I sat down with David Morgan of TheMorganReport.com to talk with him about this classic 10 Rules for Silver Investing. It was a 44-minute discussion of basic guidelines for being a successful long-term silver bullion and silver mining share investor. It has insights for both new and veteran silver investors, which should add value to anyone who takes the time to watch it: • SILVER INVESTING Top 10 Rules | David...
Royalty-Free Music by Scott Buckley
'Castles in the Sky' - • 'Castles in the Sky' [Dreamy Happy Pi...
Reuters silver article: https://www.reuters.com/article/preci...
That is all for this week's SD Bullion market update.
As always, take great care of yourselves and those you love.