Best of the Week
Most Popular
1. Trumponomics Stock Market 2018 - The Manchurian President (1/2) - Nadeem_Walayat
2.Yield Curve Inversion a Remarkably Accurate Warning Indicator For Economic & Market Peril - Dan_Amerman
3.China is Now Officially at War With the US and Japan - Graham_Summers
4.Markets Pay Attention Moment - China’s Bubble Economy Ripe for Bursting - 16th Jul 18 - Plunger
5.Stock Market Longer-Term Charts Show Incredible Potential - Chris_Vermeulen
6.U.S. Stock Market Cycles Update - Jim_Curry
7.Another Stock Market Drop Next Week? - Brad_Gudgeon
8.The Death of the US Real Estate Dream - Harry_Dent
9.Gold Market Signal vs. Noise - Jordan_Roy_Byrne
10.The Fonzie–Ponzi Theory of Government Debt: An Update - F_F_Wiley
Last 7 days
Moving Averages Help You Define Market Trend – Here’s How - 14th Aug 18
It's Time for A New Economic Strategy in Turkey - 14th Aug 18
Gold Price to Plunge Below $1000 - Key Factors for Gold & Silver Investors - 14th Aug 18
Dow Stock Market Trend Forecast 2018 - Video - 13th Aug 18
Stock Market Downtrend to Continue? - 13th Aug 18
More Signs That the Stock Market Will Rally Until 2019 - 13th Aug 18
New Stock Market Correction Underway - 13th Aug 18
Talk Cold Turkey Economic Crisis - 13th Aug 18
Which UK Best Theme Park - Alton Towers vs Thorpe Park vs Lego Land vs Chessington World - 12th Aug 18
USD is Rising. What this Means for Currencies and Stocks - 12th Aug 18
Hardest US Housing Market Places to Live - Look Out Middle Class - 12th Aug 18
America’s Suburbs Are Making a Comeback - 12th Aug 18
Stock Market US Presidential Cycle, Seasonal Analysis and Economy - Video - 12th Aug 18
Yield Curve Inversion and the Stock Market - Video - 11th Aug 18
Land Rover Discovery Sport 1st Dealer Oil Change Service - What to Expect - 11th Aug 18
How to Setup Webinars and Use Them to Overcome the Barriers in E-Learning - 11th Aug 18
Big US Stocks’ Q2’18 Fundamentals - 11th Aug 18
Dow Stock Market Trend Forecast 2018 - 10th Aug 18
SPX Testing Its First Support Level - 10th Aug 18
Dreaming of a "Comfortable Retirement" on a Public Pension? - 10th Aug 18
The Forrest Gump of All Future Democrat Election Losses - 10th Aug 18
More Uncertainty as Stocks Got Closer to January Record High - 10th Aug 18
Gold and Silver Kill Zone - 9th Aug 18
Even More Cracks in the Gold Dam - 9th Aug 18
Ignore the Stock Market “midterm election year”, Which is “supposed” to be Weak - 9th Aug 18
Stock Market Trend and Volatility Analysis - Video - 9th Aug 18
Tips on Maximizing Small Serviced Offices Space - 9th Aug 18
VIX’s Collapse is Bullish for VIX and the Stock Market - 9th Aug 18
Vestles Platform Offers Several Key Trading Tools - 8th Aug 18
US Stock Markets Higher Until November 2018 - Part 2 - 8th Aug 18
US Stock Markets Higher Until November 2018 - Part 1 - 8th Aug 18
Stock Market US Presidential Cycle and Seasonal Analysis - 8th Aug 18
Is the Stock Market Correction Over? - 7th Aug 18
Yield Curve Inversion and the Stock Market - 7th Aug 18
Stock Market Elliott Wave Analysis and Forecast - Video - 7th Aug 18
Trade War! Win the Economic Hostilities Against the Chinese - 7th Aug 18
Technical Analyst Sees Silver as 'Oversold' - 7th Aug 18
Alex Jones Banned! Will Unapproved Opinions Be Censored Off the Internet? - 7th Aug 18
Gold and Silver Stocks On the Verge of the Next Major Decline - 7th Aug 18
First Time Buyers Need to ‘boost the affordability’ of Their Move Alone  - 7th Aug 18
Long Term Care Homes as an Investment are Heating Up! - 7th Aug 18
The Exponential Inflationary Stocks Bull Market - Video - 6th Aug 18
Land Rover Discovery Sport Oil Change Service Dash Warning Message - 6th Aug 18
Restructuring of Western Economic Power - 6th Aug 18
Stock Market Trend and Volatility Analysis - 6th Aug 18
Stock Market and Economy False Narratives That are Just Wrong - 6th Aug 18
VPN – Is It Worth It? - 6th Aug 18
All You Need to Know About Umbrella Companies - 6th Aug 18
Why China Lost the Trade War Before it Even Began - SSEC Stocks Index - Video - 5th Aug 18
Dow Stock Market Elliott Wave Analysis - 5th Aug 18
Iran's Rial Currency Is In A Death Spiral, Again - 5th Aug 18
IMF Produces Another Bogus Venezuela Inflation Forecast - 5th Aug 18
Gold & Silver Precious Metals Monthly Charts - 5th Aug 18
Time to Position for a Decade-Long Bull Market in Natural Resources - 5th Aug 18

Market Oracle FREE Newsletter

Trading Any Market

Indian Silver Demand Explodes

Commodities / Gold and Silver 2015 Jun 11, 2015 - 05:05 PM GMT

By: GoldCore

Commodities

- India may absorb as much as one third of total global silver production this year
- Strong demand for silver steadily increasing year by year
- Indian citizens and solar industry take advantage of current low prices in silver
- U.S. silver imports still enormous despite ostensible decline in demand



The first four months of 2015 saw India import possibly as much as 3,000 tonnes of silver bullion. If the momentum is maintained India is on track to import a staggering 9,000 tonnes over the course of 2015.

This would represent almost one third of total annual mine supply globally. Worldwide mine supply was 877 million troy ounces (27,277 metric tonnes).

It would represent a 27% increase in India’s 2014 silver imports of 7063 tonnes which itself was a 13%  increase on the 2013 figure showing a steadily growing demand for physical silver in India with each passing year.

According to srsroccoreport.com, who compiled the data, it is Indian citizens who are the driving force behind the record demand for silver in India. We would speculate that India’s commitment to solar power may also be a factor.

Back in 2009, the Indian government set a target of 20GW of solar power generation by 2020. However, in January of this year the government dramatically reaffirmed its commitment to solar power by setting a new target of generating 100GW by 2022.

Solar power is generated by photovoltaic cells which rely upon silver for their manufacture. While PV cells used in India are predominantly manufactured in China it may be that Indian investors may be accumulating silver in anticipation of growing demand for PV cells – China also has a highly ambitious solar power program – or it may be that the government itself is stockpiling supplies to protect against supply disruptions.

GoldCore Gold Silver Ratio

Srsroccoreport.com also point out that silver imports into the U.S. continue to be enormous. They speculate that this is due to a handful of institutions and high net worth individuals buying silver while sentiment among the wider public remains pessimistic – a good contrarian indicator.

Silver is a useful component in any portfolio. While like all markets today, it is quite volatile, an allocation to physical silver compliments gold as a diversification and is a leveraged form of gold due to its tendency to outperform gold and provide higher returns in bull markets.

Many investors store silver in secure safe haven storage vaults, many more store silver with the Perth Mint Certificate Program, which allows investors to store silver at low cost and in the comfort of a government guarantee. At GoldCore, we have long believed that silver is an integral part of a portfolio of precious metals. The percentage of silver, depending on your attitude to risk and advice from your financial planner, should not make up more than 25% of your precious metal allocation.

A Word of Caution When Buying Silver: As a long term investor it is critical that you do not buy from a closed market digital metal provider who may entice you with ultra cheap premiums. For starters you may be limited in how you can sell your silver, should the time come, as the only market available to you will be the one made by the provider and the fees they charge may be subject to change at a moments notice. Short term investors may well be safe in such programs but for those with longer time horizons – safety and flexibility should trump all other considerations.

Webinar: All You Need To Know About Silver In 60 Minutes
Must Read Guide:  7 Key Gold and Silver Must Haves

MARKET UPDATE

Today’s AM LBMA Gold Price was USD 1,180.50, EUR 1,049.19 and GBP 763.51 per ounce.
Yesterday’s AM LBMA Gold Price was USD 1,186.00, EUR 1,049.19 and GBP 767.86  per ounce.

Gold climbed $9.70 or 0.82 percent yesterday to $$1,186.20 an ounce. Silver rose $0.05 or 0.31 percent to $16.03 an ounce.


Gold remained steady today after a three day rally buoyed by safe haven bids because of the Greek debt crisis and a weaker U.S. dollar.

Gold in Singapore for immediate delivery was hovering at $1,185.36 an ounce near the end of the day, and gold in Switzerland also fell.

Gold looks undervalued at these levels and is over due a bounce. Greece should support gold and potentially push it higher before the important June end deadline.

The psychological price level of round number $1,200 per ounce will offer resistance but should gold rise above it, we would expect a move to $1,250.

However, bearish sentiment is still apparent in gold ETF’s as SPDR Gold Trust, the world’s largest, has seen its holdings dip 0.21 percent, its lowest since 2008.

Traders will watch the U.S. retail sales data for any hints on the U.S. economic outlook.  Analysts predict a rise in U.S. retail sales of 1.1 percent for May versus 0 percent. Another good number could see an interest rate rise from the U.S. Federal Reserve happen later this year instead of 2016.

In late European trading gold is down 0.57 percent at $1,179.50 an ounce. Silver is off 1.09 percent at $15.86 an ounce, while platinum is down 0.73 percent at $1,106.80 an ounce.

This update can be found on the GoldCore blog here.

Stephen Flood
Chief Executive Officer

IRL
63
FITZWILLIAM SQUARE
DUBLIN 2

E info@goldcore.com

UK
NO. 1 CORNHILL
LONDON 2
EC3V 3ND

IRL +353 (0)1 632 5010
UK +44 (0)203 086 9200
US +1 (302)635 1160

W www.goldcore.com

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 63 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'

GoldCore Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules