In January, India imported significantly more silver and gold than in the same month last year.
India imported 48 tons of gold in January, 354 percent more than in the same month last year. Imports of silver rose by 385% in the same period. India's holdings of silver ETPs have also risen by around 523 tons year-on-year. In 2022, India imported a record 9,450 tons of silver. Last year, however, demand collapsed and in 2023, only 3,475 tons of silver found its way to India. But now imports have increased. Firstly, stocks have fallen and secondly, demand for the current festive and wedding season has picked up. The price of silver has also weakened somewhat.
The decline in inflation and the government's efforts to revive the rural sector have also helped. After only 17 tons of silver were imported in February 2023, around 500 tons of silver are expected to be imported in February 2024. A further recovery of the rural economy is generally expected in the coming months, not least because harvest results have also improved. If industrial demand then improves and the continuing strength of the urban economy is also taken into account, silver should be in good demand.
The Silver Institute expects global demand for silver to reach 1.2 billion ounces in 2024. Industry is forecasting a new record demand. The automotive industry is installing more and more electronic components, and the photovoltaic sector is increasing demand for silver with more efficient solar cells. So, let's take a look at silver in the ground.
Sierra Madre Gold and Silver - https://www.commodity-tv.com/ondemand/companies/profil/sierra-madre-gold-silver/ - scores particularly well with its La Guitarra project in Mexico, the revitalization of a previously producing mine.
Vizsla Silver - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ - is developing its main project, the high-grade Panuco silver-gold project, also located in Mexico.
Current company information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/en/companies/sierra-madre-gold-and-silver-ltd/ -) and Vizsla Silver (- https://www.resource-capital.ch/en/companies/vizsla-silver-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
India imported 48 tons of gold in January, 354 percent more than in the same month last year. Imports of silver rose by 385% in the same period. India's holdings of silver ETPs have also risen by around 523 tons year-on-year. In 2022, India imported a record 9,450 tons of silver. Last year, however, demand collapsed and in 2023, only 3,475 tons of silver found its way to India. But now imports have increased. Firstly, stocks have fallen and secondly, demand for the current festive and wedding season has picked up. The price of silver has also weakened somewhat.
The decline in inflation and the government's efforts to revive the rural sector have also helped. After only 17 tons of silver were imported in February 2023, around 500 tons of silver are expected to be imported in February 2024. A further recovery of the rural economy is generally expected in the coming months, not least because harvest results have also improved. If industrial demand then improves and the continuing strength of the urban economy is also taken into account, silver should be in good demand.
The Silver Institute expects global demand for silver to reach 1.2 billion ounces in 2024. Industry is forecasting a new record demand. The automotive industry is installing more and more electronic components, and the photovoltaic sector is increasing demand for silver with more efficient solar cells. So, let's take a look at silver in the ground.
Sierra Madre Gold and Silver - https://www.commodity-tv.com/ondemand/companies/profil/sierra-madre-gold-silver/ - scores particularly well with its La Guitarra project in Mexico, the revitalization of a previously producing mine.
Vizsla Silver - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ - is developing its main project, the high-grade Panuco silver-gold project, also located in Mexico.
Current company information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/en/companies/sierra-madre-gold-and-silver-ltd/ -) and Vizsla Silver (- https://www.resource-capital.ch/en/companies/vizsla-silver-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
