Stunning Development In The U.S. Silver Market

Precious Metals by SRSrocco

According to the USGS, (U.S. Geological Survey), U.S. silver bullion exports to India exploded in June.  Now, when I say, “Exploded”, this is not an overstatement at all.  If we look at the chart below, we can see how U.S. silver bullion exports to India went from virtually nothing to 75 metric tons (mt) in June:

Normally, I have been focusing on U.S. Silver bullion imports as they increased significantly this year.  However, I overlooked this interesting data tidbit as the overwhelming majority of U.S. silver bullion exports are shipped to Canada.  Matter-a-fact, of the 214 mt of total U.S. silver bullion exports January-April, Canada received 90% (191 mt).