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Commodities Briefing - Categorized | Bullion/Gold, Trading more

China reduces 2012 silver exports by 5pct, could boost prices

Posted on 16 November 2011

Silver exports from China, the world’s largest, are expected to drop this year as domestic demand from investors is expected to surge. And, in a market that has seen significant price volatility, these reduced exports could bolster prices of the white metal, say analysts. On Monday, December silver lost 65.8 cents to close at $34.024 an ounce in New York. The metal has advanced 10% this year.

According to a statement from China’s ministry of commerce, the 2012 export quotas for silver from the Asian country have also been reduced by 5%. This amounts to a cut of 283 tonnes in its 2012 silver export quotas from 5,670 tonnes in 2011……………………………………..Full Article: Source


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VRS - who has written 34673 posts on Opalesque Commodities Briefing.


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