Below are a few articles on gold and silver consumption in India, some interesting points are:
- Indians are leaning towards silver jewellery due to golds high value and risk of it being stolen
- Gold import to India in 2010 where 750-800 tonnes, the largest in at least a decade
- Gold bullion for investment purchases increased 73% last year
- India consumes 4000 tonnes/year (this would work out to 128,000,000 ozs)
- India imported 3000 tonnes in 2010, this is expected to increase 25% in 2011 (this would represent a 35 million oz increase over last year)
With China swinging from a 100 million oz export in 2005 to a 2010 import of 120 million ozs, as per Eric Sprott, see here. It would seem silver has no where to go but up, and this would seem to bode well for any silver producing stocks.
Silver article from tradingcharts.com, see here.
Silver article from commodityonline, see here.