Silver Imports

Here's how to trade Silver on November 08; Check resistance, support here

The Fed cutting rates despite citing strong growth will put the focus back on inflation. The US bonds are quite volatile. Yields are likely to spike again on growth expectations and deficit concerns

Silver trading strategy: Support at Rs 95,000, resistance at Rs 98,800

Spot silver at the time of the MCX closing was trading at $33.67, down around 0.10 per cent on the day.

UAE to review India's concerns on surge in silver, platinum alloy imports

India has raised its concerns over jump in imports of silver products, platinum alloy, and dry dates from the UAE and urged the country to ensure that the rules are not circumvented under the free trade agreement (FTA), an official statement said on Tuesday. The UAE has agreed to examine the concerns raised by the India, the commerce ministry said. Following significant increase in imports, India sought review of certain provisions of the FTA with the UAE that came into force on May 1, 2022. The concerns were raised during the second meeting of the joint committee (JC) under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in the UAE on October 14. The Indian delegation was led by Additional Secretary in the Department of Commerce Ajay Bhadoo and Assistant Undersecretary for International Trade Affairs, Ministry of Economy of the UAE, Juma Al Kait co-chaired from the UAE side. "Indian side raised the issue related to the recent surge in imports of silver products,

Silver strategy: Buy the dips; support at Rs 87,500, resistance at 91,500

Surging US Dollar Index and tumbling bond prices are acting as headwinds for the metal as the US rate cut pace has become somewhat uncertain in the short term. Dip buying is preferred.

Here's how to trade Silver on September 25; Check resistance, support here

On Tuesday, silver surged sharply higher on an unexpectedly huge stimulus package announced by China's Central Bank and the Chinese authorities.

Outsized 50-bps Fed rate cut positive for Silver; check trading strategy

Spot silver was extremely volatile in the wake of the US Fed cutting rates by 50-bps at its FOMC meeting concluded on September 18.

Silver trading strategy today: Buying the dips recommended; key levels here

On Thursday, spot silver rallied to a nearly three-week high on Fed rate cut bets and firmer industrial commodities.

India to discuss silver import spike with UAE amid growing concerns

West Asian nation now India's largest source of silver imports

Gold, silver import from UAE surges 210%, need duty revision in FTA: GTRI

India's gold and silver imports from its free trade agreement (FTA) partner UAE have skyrocketed 210 per cent to USD 10.7 billion in 2023-24 and there is a need to potentially revise the concessional customs duty rates under the pact to mitigate the arbitrage driving this surge, a report said on Monday. Economic think tank Global Trade Research Initiative (GTRI) said this sharp rise in gold and silver imports is primarily driven by import duty concessions granted by India to the UAE under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). India allows 7 per cent tariffs or customs duty concessions on import of unlimited quantities of silver and a 1 per cent concession on 160 metric tonnes of gold. CEPA was signed in February 2022 and implemented in May 2022. Additionally, India facilitates gold and silver imports by allowing private firms to import from the UAE through the India International Bullion Exchange (IIBX) in Gift City. Previously, only authorised agencies

India's silver imports in four months surpass all of 2023: Check details

Investor sentiment has played a pivotal role in boosting silver imports

India's February silver imports hit record, set to rise by 66% this year

India's imports could rise to 6,000 tons in 2024, from last year's 3,625 tons, driven by robust demand from the fabrication and solar industries

Silver imports likely to pick up pace after falling over 63% in 2023

High prices and previous year's base weighed on the precious metal

Gold imports decline 30% to $31.8 billion in April-February 2023

India's gold imports, which have a bearing on the current account deficit, fell about 30 per cent to USD 31.8 billion during April-February 2023 due to high customs duty and global economic uncertainties, according to data from the commerce ministry. Imports of the yellow metal stood at USD 45.2 billion in the corresponding period of 2021-22. The imports are in the negative zone since August 2022. Silver imports, however, rose by 66 per cent to USD 5.3 billion during April-February 2023. The significant fall in gold imports though has not helped in narrowing the country's trade deficit -- the difference between imports and exports. The merchandise trade deficit for April-February 2022-23 was estimated at USD 247.52 billion against USD 172.53 Billion in the year-ago period. According to industry experts, high import duty on gold and global economic uncertainties are the reason for the dip in the imports of the precious metal. "India imported about 600 tonnes of gold during ...

Covid-19 impact: Gold imports down 57% to $6.8 bn in first half of FY21

Silver imports during April-September 2020 too dipped 63.4 per cent to USD 733.57 million (about Rs 5,543 crore), the data showed

Gold imports dip 81% in April-July to $2.47 bn, silver imports down 56.5%

Imports of the yellow metal stood at $13.16 billion (about Rs 91,440 crore) in the corresponding period of 2019-20

Silver rebounds in spot market, quote at 3-4% premium on scarcity

Even silver micro futures with a lot size of 1 kg on the MCX, is quoting at a premium, indicating that market doesn't have enough floating stock of the white metal

Silver demand and import in India decline, but price outlook bullish

India's demand has been muted especially since import duty was raised to 12.5 per cent last July

Sharp increase of 30-35% in silver import as demand show vibrancy

Even import bill for silver has jumped almost 30 per cent to $3.934 billion

Silver import up 60%, to cross 5,000 tonnes

Import of silver has risen this year. Thomson Reuters GFMS says this had reached 4,200 tonnes till October, 60 per cent higher compared to the same period in 2016, and likely to end the year with 5,000 tonnes.Restocking after last year's fall and demand from industry led to the rise and "with overall improved consumption sentiment and improving rural India, we expect import demand next year to rise further by approximately 10 per cent", said Sudheesh Nambiath, regional lead analyst for GFMS.Import fell significantly in 2016 to 2,794 tonnes, from an all-time high of 7,955 tonnes in 2015. Says Viraj Didwani, Director at Foresight Bullion India, one of the large silver importers and wholesalers: "After demonetisation, dealing with cheques is catching up; we see dealers/jewellers in even smaller towns have also shifted to banking chennels for silver buying."As a result, unaccounted silver flows are largely from customers who sell silver jewellery or bars back to jewellers and insist on ...

Silver import could fall to 5-year low as note ban hits demand

Purchases from overseas plunged 60% to about 3,000 tonnes last year & would contract further in 2017