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« Chaos In 17 States Reveals Our Current System Is Finished | Main | The Precious Metals’ Bullish Case is ‘Written in the Rocks’ »
Tuesday
Oct082013

India Will Dominate the Silver Market in 2013

 

David Franklin

Precious metals have surged back in the last few days as the gravity of the situation in Washington hit investors. Equity market participants who seemed so sure a compromise was at hand on Friday afternoon, were disappointed Monday that no deal had been achieved. With the S&P at post-shutdown lows, it seems precious metals have caught a bid. Since the start of the shutdown gold is up almost 3% and silver has appreciated by nearly 6% as investors have ruminated on the implications of a default by the US Government.

With silver falling by 26% so far this calendar year, even factoring in the recent surge, you’d be excused for presuming there were negative fundamentals developing in the market for the white metal. Indeed the fundamentals have been changing, but they all favour the price of silver. Unfortunately for investors, this has not yet been reflected in the price.

The most recent import data from the Indian government confirms reports that Indians are importing significant quantities of silver. 

To read this interview in full please click here.

With gold, silver and Uranium stocks being out of favor one must decide if this is a problem or an opportunity. We have steadfastly refused to buy gold and silver mining stocks for the last two years and as evidenced by the HUI we feel that our decision to hold back has been vindicated. The damage done to the mining sector may not be over yet but this demise is starting to offer up some exciting opportunities in my view.

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