by Steve St. Angelo, SRSRocco Report: There are four interesting developments taking place in the gold and silver market that precious metals investors should be aware of. While Americans continue to place all the BETS in the CASINO called Wall Street, via stocks, bonds and real estate, the EAST has been acquiring record amounts of gold and silver. Furthermore, something interesting seems to have changed recently in the Silver Eagle sales market.
FIRST DEVELOPMENT: Let’s start off with showing the stunning amount of silver India imported in May. According to Smaulgld.com, India imported nearly 2,000% more silver in May 2017 vs May 2016:
Matter-a-fact, India imported nearly the same amount of silver in May, than they received from January-April. Also, we can see that May’s 1,473 metric tons of silver imports is 2-4 times more than any of the prior months. Something has inspired the Indians to import that much silver this past May.
SECOND DEVELOPMENT: India also imported a record amount of gold in May:
ccording to Smaulgld’s article, INDIAN GOLD IMPORTS ON RECORD PACE IN 2017:
Indian gold imports of 220 tons in May were up from 36 tons in May 2016.
May Indian Gold Imports were the largest one month total in twenty years.
The impact of 220 tons imported into India on the price of gold was de minimus
So, for some reason, India’s gold and silver imports surged in May. It will be interesting to see what their figures are for June and July. Please check out the Smaulgld.com site run by Louis Cammarosano. He does an excellent job covering updates on the Gold and Silver Market.