by Steve St. Angelo
With leading indicators pointing to a decline in economic activity, U.S. silver imports surged in March. How much did U.S. silver imports increase? They jumped by nearly 20% compared to the previous month. If we take a look at the chart below, we can see how much U.S. silver imports in March increased compared to January and February:
[…] The United States imported 492 metric tons (mt) of silver in January and 491 mt in February. However, silver imports in March jumped to a record 582 mt.
What could cause the U.S. to import a record amount of silver in March? Was it the price? No, even though the price of silver moved higher to $16.00 in March, it fell back to $15.20 by the end of the month. Could have it been investment demand? Why Yes, this seems to be the culprit.