China’s Record Silver Stockpiling Triggers Supply Squeeze for XAG Market

From fxleaders.com

According to Chinese customs data, the largest buyer received over 790 tons in the first two months, including nearly 470 tons in February—the highest amount ever for that month. Amid already low exchange reserves and overseas metal purchases due to strong demand, local prices have risen significantly above global benchmarks. A wave of speculative buying from China and other countries drove silver prices up by roughly 70% at the beginning of the year, but by the end of January, they abruptly gave up their gains. This was the most volatile start to a year for silver prices. The robust import numbers indicate that, ... (full story)