In this interview with Peter Spina, Eric Sprott discusses the unprecedented silver consumption by India for investment purposes as the Indian gov’t cracks down on gold imports, and how India’s 4,000 ton increase in silver demand this year alone is likely to affect the silver market going forward.
Eric views the current price action in silver as extremely counter-intuitive considering the physical supply and demand fundamentals, and states that to see the price of silver go down in this environment (as India consumes an ADDITIONAL 30% of global investment silver supply) just blows me away!
Sprott concludes: These trends simply can’t continue. You can’t have India suddenly consuming 15% of the global market, people in the US buying an all-time record amount of silver, and put the same amount of money into silver as gold, those things cannot continue to happen and the price of silver stay down.
Eric Sprott’s full MUST LISTEN interview on silver is below: