Silver Sales Explode in India [Details]

silver investing chart
Written by Mike Hammer

The Indian appetite for gold is well known, and apparently, now Indians are hungry for silver as well.  US-to-India silver sales positively exploded in the six months ending Feb 2019, going from 2 metric tons to — wait for it — 517 tons. Now that’s what we call a big jump. India’s economy has been struggling with changing VAT taxes, currency recalls, and a host of other measures meant to reduce illegal drug trafficking and metal trading, and boost revenue from taxes.

These measures succeeded in spooking the Indian consumer to the point where they all but shut down expensive purchases, deeply hurting precious metal sales last year. Now it looks like consumers are figuring out the new environment and returning to their customary purchases. It could also be that Indians are buying silver because it’s cheap now. We’ll have to keep watching to see if the appetite for silver continues, but for now, it sure looks healthy. Today’s featured article gives more info on this latest silver market news.

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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