With imports in the first ten months totalling a massive 169 Moz many vaults in the UK, traditionally the largest supplier to India, have seen significant drawdowns, leading to more supply flowing from China and Russia. -GFMS
If London was already suffering a drawdown of silver inventories in October from huge Indian demand, how bad is the situation after another 1,254 mt was imported by India in November? How tight is the wholesale silver market now?
The world has consumed its huge stockpile of above ground silver for the past 3-4 decades, and I believe will soon be faced with a serious problem: where will the market acquire silver stocks to offset annual deficits and increased demand in the future?
Currently, investors are swimming in worthless paper assets up to their eyeballs.
This is very unfortunate as when the time comes to move into physical assets such as gold and silver to protect their wealth, there will be very little to go around… EXCEPT at much HIGHER PRICES.