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Silver imports shoot up as prices drift to multi-year lows

While India imported 1,900 tonnes of silver in 2012, in the first five months of 2013 alone, imports have touched 2,400 tonnes

Silver traders are sitting on huge stocks of the white metal imported in the past few months on the expectation that demand will rise with silver prices falling. As silver is quoted at a 34-month low in the international market and at a 30-month low in India, their calculations seem to be in order. While India imported 1,900 tonnes of silver in 2012, in the first five months of 2013 alone, imports have touched 2,400 tonnes. "Silver stock with several bullion traders were getting exhausted and when prices started falling from mid-April, they booked heavily anticipating demand at ...