Silver Is On A Tear Today

You're not hoping/expecting a move like in 1979-80 when silver tripled in 7 or 8 weeks, are you ?

 

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They already do that for gold and I don't think it made an impact there.

Now...India's consumption of gold has doubled every 12-15 years since 1947 (independence/partition); I'm not sure about silver.

But again, while this move doesn't HURT and might even help a BIT...I don't see it as materially impacting demand or price.

 

Totally agree, but that's why my lead in statement was....

 

I am a stacker of U.S. Coinage only, two cigar boxes full of commemoratives, and silver bars several dimes and quarters, half dollar books full, and a few 5 ouncers collectors pucks. Most collected in 2015 to 2021 when silver was stuck in the 17-to-19-dollar range or there abouts. quit cost averaging when silver hit 44.00. I have slowed my purchasing down some.

 

Not at all.

 

Here,
Another Cup and Handle.
To Quote Mel Fisher... Today is the day

 

India is growing and so is their silver consumption
Doing their part to add to my wealth
India's silver demand is high, driven by its use in jewelry, industrial applications like electronics and solar panels, and investment in coins and bars. While the country is the world's largest silver consumer, it relies on imports for over 80% of its supply, leading to a significant import volume to meet domestic needs. Jewelry fabrication is the largest share of demand, though demand for coins and bars has also surged due to strong investor sentiment, particularly during festive seasons.
Key drivers of silver demand in India

• Jewelry:
  India is the leading market for silver jewelry, with demand increasing due to a positive economic backdrop and a preference for higher purity silver.
• Industrial use:
  Significant demand comes from the electronics and solar energy sectors.
• Investment:
  There is a strong investor preference for silver coins and bars, which saw a 21% surge in 2024.
• Cultural factors:
  Festivals like Diwali drive substantial demand for silver as a symbol of prosperity and a popular gift.
• Economic conditions:
  A strong rural economy and recovering employment and income levels have boosted overall consumption.

Supply and import situation

• High consumption, low production:
  India's annual consumption is around 8,100 tonnes, while its domestic production is only about 700 tonnes, creating a large gap.
• Reliance on imports:
  To meet domestic needs, India imports a substantial amount of silver annually, with sources including the UAE, Britain, and China.
• Recent import trends:
  Despite some early-year import slowdowns, strong demand in recent months is expected to drive imports higher to restock depleted inventories.

Recent market dynamics

• Price increases and premiums:
  The high demand has led to record-high prices and premiums over international prices.
• Investor behavior:
  In 2025, a shortage of physical silver was seen, and despite record prices, investors remained bullish, with little scrap silver coming onto the market, as noted by CNBC.