from Gold Core:
Demand for silver has been surging this year as seen in U.S. silver imports, while silver eagles coin sales and silver ETF holdings remain robust. Despite this, silver has again under performed other assets and has seen price falls again this year to multi year lows at $15 per ounce.
Silver imports into the U.S. have been substantially higher in every month so far this year compared to the same months last year according to the USGS data. So far, 2,035 metric tonnes have been imported into the U.S. this year – 33% more than the same period last year.
In the same period, industrial usage of silver has been fairly flat, the build-up in Comex inventories has been negligible and sales of U.S. Silver Eagles has been flat – partly because the U.S. Mint lacked the stock to meet demand.
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