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Bloomberg News: India’s Massive Silver Demand Cutting World’s Warehouse Stocks

Bloomberg News: India’s Massive Silver Demand Cutting World’s Warehouse Stocks

By: Christine von Liederbach
November 15, 2022
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Article by Swansy Afonso and Sing Yee Ong in Bloomberg News

 Indian silver consumption is forecast to surge by around 80% to a record this year, as traders draw down inventories in warehouses from London to Hong Kong after two Covid-riddled years.

This year, silver sales are back on track. Local purchases may surpass 8,000 tons in 2022 from about 4,500 tons last year, said Chirag Sheth, principal consultant at Metals Focus Ltd. That’s up from an April estimate of 5,900 tons.

To read this article in its entirety, click here.

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Although the information in this commentary has been obtained from sources believed to be reliable, The Gold IRA Company does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. The Gold IRA Company will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.

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