Indian Gold And Silver Imports Surge By Stunning 500% In May

Tyler Durden's picture

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holdbuysell's picture

And thus the capital controls...

kkam's picture

The real Indian demand is likely to be even higher. All Indians know that due to strict import controls, a lot of gold is smuggled into the country by the underworld. That will be in addition to the official import figures.

dlmaniac's picture

"This is New Delhi,

That was one fine May silver flash crash, Blythe. Could you create one for gold as well?

Thank you, bitchez."

Motorhead's picture

My, that's a lot of tungsten.

tmosley's picture

The Indians aren't fools.  They keep their gold in jewelry form.  Tungsten doesn't shape very easily.

sunnydays's picture

Yes, the price does not match the demand.  The controls are clamped down on gold and silver.

 

 

Mr Lennon Hendrix's picture

I still do not understand how Bernanke can get away with saying he does not understand why the price of gold is rising when he sits on the world's largest gold reserve, and loans the gold out none the less.

DaveyJones's picture

It's almost as if the man tells lies

nope-1004's picture

Bankster pimps are all a bunch of lying whores.  Benocide no different.  Theoretical analysis of ZIRP to stimulate economic activity was his biggest mistake.  Now, ppl are rushing to gold because the guy lost control of the house, and the deck will soon cave in.  Don't blame anyone for buying gold, as everything else out of their lying mouths these days is such a blatant attempt to maintain the credit status quo.  This patient has long been dead and the banksters refuse to pull the plug.

 

 

Bay of Pigs's picture

And the fraud ridden GLD and SLV ETF's?

 

mogul rider's picture

And what if he isn't sitting on one of the world's largest gold reserves?

What then?

 

Prepare accordingly

Uzi's, terret's, bitchez, gold, butter, beer, and more bitchez for after the slaughter since there won't be anything to do

Long-John-Silver's picture

he sits on the world's largest gold reserve

 

Really? The last audit was in 1948.........

Dantzler's picture

And wedding season is not even until October...

Hook Line and Sphincter's picture

The maid of dishonor is planning a big funeral to coincide at the same time as all those weddings. 

kkam's picture

The jewellers must have stocked up nicely at the Comex paper PMs massacre in early May.

Bansters-in-my- feces's picture

This means demand is down....... Ask Jon Fucking dumb-dumb Nadler

FriedEggs's picture

Vanishing Silver? Not a chance. (Jon Nadler)

Lol it wasnt, 'maybe a little bit' or 'a percentage' - no, its 'not a chance'

Are you f-ing serious?

 

June 17, 2011 -

What about demand? Well, it is not rising, that is what appears to be the factual case Total silver demand was 28,500 tonnes in 2009 and it is projected to decline to 27,000 tonnes in the current year.

Contrary to certain overly optimistic “takes” on the market, we note that jewellery and flatware are actually gaining a bit (rising from 7,000 tonnes in 2009 to 7,200 tonnes in 2011), and that industrial offtake is nearly flat for a third year; hovering in and around the 12,500 tonne level.

http://www.kitco.com/ind/Nadler/jun172011A.html

 

Fried(e)

 

Ecoman11's picture

He meant to say 'don't buy my silver because I need time to buy more'

akak's picture

No, he actually meant to say "My hysterical and disingenuous anti-precious metals propaganda campaign has fallen, and it can't get up!"

Tapeworm's picture

who in hell is buying flatware at these prices?

jeff montanye's picture

and don't forget kitco's ongoing massive tax fraud litigation with the province of quebec.

AgShaman's picture

Group 11 whirlwind "Punjabits-Sez"!

Bastiat's picture

Nothing to do with weddings -- more like a widening breach the fiat illusion.

Oh regional Indian's picture

Ideed. People are starting to buy bullion. I've seen many first timers, rollign a half kilo bar in their hands, enraptured.

ORI

DosZap's picture

ORI,

If other reports are to be believed, and no reason why not,I have seen more and more Indians, are buying gold bars.

The poor are buying Silver,in any form they can.

After the smoke clears, India,China, and Russia, are going to wind up the top 3 Gold holders in the world, at current buy on availability stays same.

 

 

Fancy Bear's picture

Given the divergence I've seen over the last few weeks, I no longer think Gold will experience the prophesied big dip the deflation-first camp has called for. It seems enough people really are in it for the long term and will not be squeezed for liquidity more than there will be demand for something with real value.

MagicHandPuppet's picture

If the paper gold price does dip significantly, there will be nary and ounce of physical to buy anywhere near spot.

DosZap's picture

Fancy,
Agreed.
My thoughts for a long while.
Esp since there will be NO SAFE haven currencies(really aren't now) when it's over.
Gold/Slvr,Pm's,and best grade Diamonds.

akak's picture

Bankster Propaganda Emergency Room, paging Dr. Nadler ....  Bankster Propaganda Emergency Room, paging Dr. Nadler ..... Dr. Nadler please report to Fiat Ponzi ICU as soon as possible ..... Dr. Nadler, your immediate presence is urgently requested in Anti-Gold Disinformation Surgery .....

Caviar Emptor's picture

Everything the banksters do to "calm" the markets only spooks them now. The confidence factor is moving backward. The move away from paper and toward PMs is picking up

jeff montanye's picture

john hussman has significantly increased the pm miners in his strategic total return fund over the last two weeks. http://www.hussmanfunds.com/wmc/wmc110613.htm

Ecoman11's picture

And today US Mint updated June silver sales to 2,490,500 oz. On track for another record month.

tyler's picture

Sorry man I meant to hit reply but accidentally hit junk.  Ya the mint is gonna have another record month.  Now people are paying a low premium for the eagles but even when the premium was high they were still selling them like crazy.  Silver eagles are what I like and silver is still dirt cheap considering theres less of it above ground than gold and it does a hell of a lot more for society that putting a god damned crown on someones tooth.

akak's picture

Hey, don't dismiss the importance and ongoing relevance of gold in dentistry!  It is still the highest-quality, most durable material available for crowns and fillings.  My dentist when I was in my mid and early 20s repeatedly talked me out of replacing a large number of amalgam fillings with gold --- and now that I am having to have most or all of them replaced AGAIN, at much cost and significant risk to my remaining enamel, I wish I could go back and strangle him!

HungrySeagull's picture

I won't be replacing mine except in very specific tooths.

I refuse to use Gold because that is a mark of the Gang culture along with bling where I grew up.

I did use a special type of ceramic filling that is quite strong and does not alter the appearance of teeth. However it is very expensive.

 

At some point the teeth must collaspe if the replacements are not done correctly in a timely manner and that is where I am now in life. A maintaince time with 4 visits a year for cleanins etc.

J U D G E M E N T's picture

I Have been buying Silver Eagles as well.  The dealer here sells them for $8 above spot.  But, there are a few with a

plastic like seal, and some that are painted which are sold for $3 above spot.  Its easy to get the plastic off, just broil

them for 45 seconds or until you see the plactic move. Then remove the plastic with your fingernail. (After it cools off!)

All the color comes off with the plastic.  Wallah saved $5.  As for the Inked ones, I take a gasoline like petroleum product

and put it in a jar about 1/4" deep and lay it in the bottom for about 2 hours.  They just wipe off like it was nothing.

Hope this helps save all you silver enthusiasts a little Federal Reserve Note purchasing power!

TheMerryPrankster's picture

Junk button is a toggle switch. Hit it once it increments, hit it again it decrements. you can erase a junk by junking again.

DosZap's picture

tyler,

Do not make a fools mistake.

GOLD is money, and only money.

Why do you think the CB's and big dogs hold mostly Au?.

History.

reefermadness's picture

Stunning Indian babes with gold surging, doesn't get any better than that

Tapeworm's picture

Yeah, I have a fair amount for a dowry to whatever, and it would be easier to be happy with an Injun than a hag from Weiner's district.

Tapeworm's picture

Back when glod was sub 300 and slAg was sub 5.00 I bought some Enyun 24k neckware that I have never seen since on my Western women. They are stupid asses for not making sure that it is intermixed with their costume joolry junk. I got pissed and grabbed a wad of it to put into safekeeping. The inquiries to me were for the junk that got grabbed with the good.

 Women are what they are, but some are more appreciative than others of what matters in the longer run.

 (The way that I ended up with the Indian bullion neckware is because it was getting traded in for cash because of the rise of POG from 255 to 280.) They are not all that smart, besides, 1543 gold will buy a heck of a lot of neccessities so that one will not go hungry with a bullion necklace.

 If you ZH fans really think that the banking system is going to hit the wall you should forego another ounce for what it costs to feed your family for a month or two. You can sit at home admiring your "Eagle" while the little lady stands in line with the gangbangers to get some gombit cheese.

 Storage food is still rather crazy cheap right now when priced in PM. It is far more important to have your fallback position than to have a couple of ounces that you dream of multiplying into buying your city block. That will never happen, but you can easily starve if the payments system goes down.

 If things get better quickly your expenditure on ensuring your family's continuity will be an excercise on how to use freeze dried food in the menu

 If it goes the other way and interbank payments seize, the three months of food that your family has will be worth a lot more than the ounce of gold.

 Just my 2 cents.

 Tyler picked up on one of my posts one time when I called attention to the deals that COSTCO has on storage food. I still find that they are the cheapest when I look on behalf of other people that ask me on what to do to prepare. Of course you can prepare with foods that cost a lot less than stuffs that are expected to last 15-30 years.

 For the price of an ounce of gold one can have nine months worth of food for one person;  some is good, and some will be blah, but it will get you through. It is better than sending the little lady to the breadline to get some goomint cheese in competition with the local gangbangers that probably will not respect the place in line of your lady.

 Likely it will not come to that. If there is a breakdown in the payments system all bets are off.

TheMerryPrankster's picture

food is good and will help much, but without water tough times. 2 gallons per day per person, keep at least a weeks worth, more if you have space. Water is precious, more so when you can't get it.

also think about what happens when the power goes out.

Candles,matches,lighters, medication, first-aid, radio.

a single oz of au buys a whole lot of prep supplies, peace of mind and quite a nice bug out bag, if thats your thing.

 

Azannoth's picture

Women in the West want Diamonds which are worthless pieces of rock, with an artificialy high price due to De Beers monopoly, try selling a diamond I dare you !

SilverRhino's picture

Food is a good supply.   100 pounds of rice and beans can be had @ Costco / Sam's for under $60 fiat and stored properly for another $10. 

Add a water filter and some barrells to your preparations before buying another ounce of metals.   Lake water is not that healthy next to cities.  

SPICES are a MUST.   Spend a couple silver ounces for them.