The silver market is currently at a major turning point. US’s strictness on Venezuela, Trump’s foreign policy and increasing geo-political tension in South America are directly affecting the silver supply. The Demand-Supply Gap has reached historic levels and prices have increased by nearly 160% in the last one year. According to reports, on the night of December 24, about 800 tons of gold and silver were sent from Venezuela to Russia and China in 11 special planes. China, which is the world’s largest silver refining country, is playing an important role in this shortage. The premium of up to 80% between Paper Silver and Physical Silver in Dubai and New York shows market fear. Mexico, Peru, Argentina and Chile form a major part of global silver production, so if the situation worsens, prices can go up to $100 per ounce, which will also affect India’s silver prices.
Earthquake in Silver , Will records be broken due to Venezuela Crisis and Trump Policy? , Money Live , Earthquake in Silver , Will records be broken due to Venezuela Crisis and Trump Policy?
