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India permits large silver imports despite weak domestic demand
MUMBAI: India has issued permits to import around 6,500 metric tons of silver over the next six months as the world’s biggest consumer of the precious metal seeks to meet festive-season demand, four bullion dealers who received the permits told Reuters. Higher imports by India, which relies on overseas purchases to meet more than 80% of its silver demand, could support global prices while easing hefty domestic premiums that have risen due to tight supplies. India in mid-May restricted imports of silver in nearly all forms with immediate effect. In June, it further tightened the rules by adding...
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