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Silver imports surge 40% in Oct, hit 3-month high

Buyers opt for silver instead of expensive gold to meet high seasonal demand

Reuters  |  Mumbai 

Silver imports rose to a three-month peak in October and are on track to hit a record this year, data from Thomson Reuters GFMS showed, as buyers opt for the precious metal instead of expensive gold to meet high seasonal demand. More shipments by the world's top buyer may help underpin global silver prices that have slumped 37% so far this year - their biggest annual drop in at least three decades. Silver imports jumped 40% to 338 tonne in October from 241 tonne in September, GFMS data showed, driven by demand during the festivals and weddings season that starts from October and ...

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First Published: Tue, December 03 2013. 12:01 IST
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