Indians are buying silver and this could have a major impact on the world market for the white metal.
The Silver Institute covers this story, and highlights several other technological innovations involving silver, in its latest issue of Silver News. It also features an interview with ICE Benchmark Administration COO Matthew Glenville. His company recently began administering the silver benchmark and operating the auction underlying the London Bullion Market Association Silver Price.
India’s cultural affinity for silver underscores the country’s importance as a leading source of silver demand. To meet this need, India consumed 160.6 million ounces of silver in 2016, accounting for 16% of global silver demand. Between 2010-16, India imported 990 million ounces of silver.
This post was published at Schiffgold on NOVEMBER 2, 2017.