US NET SILVER IMPORTS TURN POSITIVE FOR 1ST TIME IN 9 MONTHS
💥US IMPORTED 422.437 TONS OF SILVER IN MAY
💥MAY US SILVER EXPORTS JUST 245.524 TONS – LOWEST US SILVER EXPORTS SINCE SEPT ’25
The precipitous decline in US silver exports likely fully a consequence of India’s import restrictions placed on silver in May.
India shifted nearly all forms of silver from the “free” to “restricted” import category in May.
On May 16, the Directorate General of Foreign Trade (DGFT) issued Notification No. 17/2026-27 shifting silver bars, unrefined silver, & semi-processed silver into the restricted category, in an attempt to drastically slow unprecedented Indian physical silver demand in order to defend the Rupee
As part of these comprehensive measures, the Modi government raised import duties on both gold and silver from 6% to 15%.
Premiums for physical silver have EXPLODED inside India due to the import restrictions. Gold imports have also been restricted, but premiums have been more subdued as gold smuggling has been RAMPANT into India.
US silver exports to India were nearly non-existent in May- plunging to just 1.9 metric tons.
Chart courtesy www.goldchartsrus.com
THE LAST BULL STANDING: PETER SCHIFF EXPLAINS WHY THE GOLD & SILVER BULL IS STILL ALIVE!
THE LAST BULL STANDING: PETER SCHIFF EXPLAINS WHY THE GOLD & SILVER BULL IS STILL ALIVE!
