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Craig Hemke at Sprott Money: India vs. Comex silver
7:58p ET Tuesday, July 17, 2018
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing at Sprott Money, reports tonight that in recent months India's demand for silver has been running at record levels. But Hemke adds that paper silver traded on the New York Commodities Exchange trades every two days more silver than the world produces in a year.
"Led by India," Hemke writes, "the world is on pace to consume all the silver produced in 2018, yet the dollar price of silver is now down over 10 percent year to date. That's a dichotomy that must soon rectify itself. Either physical silver demand will crash before year-end or the paper price will be forced to respond as it did in 2016."
Hemke's analysis is headlined "India Soaks Up Physical Silver Supply" and it's posted at Sprott Money here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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