{"id":56103,"date":"2020-12-21T07:41:09","date_gmt":"2020-12-21T12:41:09","guid":{"rendered":"https:\/\/olduvai.ca\/?p=56103"},"modified":"2020-12-21T07:41:09","modified_gmt":"2020-12-21T12:41:09","slug":"the-u-s-continues-to-import-a-record-amount-of-silver-while-flows-into-india-nearly-dry-up","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=56103","title":{"rendered":"The U.S. Continues To Import A Record Amount Of Silver While Flows Into India Nearly Dry Up"},"content":{"rendered":"
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The U.S. Continues To Import A Record Amount Of Silver While Flows Into India Nearly Dry Up<\/a><\/h3>\n<\/header>\n
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U.S. demand for silver continued to remain strong as imports surged higher in September after a decline in August.\u00a0 However, the opposite was true for India as silver imports during the same month collapsed to an all-time low.\u00a0 What a difference in just a few years as India imported nearly 500 metric tons on average a month last year.<\/p>\n

According to the data from GoldChartsRUs.com, India\u2019s silver imports in September fell to only 11 metric tons (mt) compared to 169 mt during the same month last year.\u00a0 That\u2019s a 93% decline year-over-year.<\/strong>\u00a0 Interestingly, during July last year, India imported an average of 33 mt of silver A DAY.\u00a0 However, in September this year, it was a total of only 11 mt.\u00a0 Gosh, that\u2019s a tad bit more than 350,000 oz.\u00a0 What\u2019s going on?\u00a0 Of course, the pandemic likely was part of the reason for the decline in silver imports, but the silver price rise to an average of $27-$28 during September likely curtailed buying by savvy Indian investors.<\/p>\n

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While India\u2019s silver imports nearly dried up in September, it was a totally different story for the United States.\u00a0 Total silver imports jumped to 745 mt in September, up from 524 mt in August.\u00a0 When be put India and U.S. silver imports side-by-side, we can see a huge difference.<\/p>\n

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The United States imported 66 times more silver than India in September.<\/strong>\u00a0 In just the past three months (JUL-SEP), U.S. silver imports totaled 2,309 mt, or 74 million oz.\u00a0 As we can see, the U.S. has imported roughly 2.5 times more silver than India during the first three-quarters of the year.\u00a0 The majority of U.S. silver imports were in bullion form.<\/p>\n

The next chart shows just the U.S. silver bullion imports for Jan-Sep.<\/p>\n

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\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The U.S. Continues To Import A Record Amount Of Silver While Flows Into India Nearly Dry Up U.S. demand for silver continued to remain strong as imports surged higher in September after a decline in August.\u00a0 However, the opposite was true for India as silver imports during the same month collapsed to an all-time low.\u00a0 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[422,730,12073,827],"class_list":["post-56103","post","type-post","status-publish","format-standard","hentry","category-economics","tag-india","tag-silver","tag-srsrocco-report","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56103"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56103\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}