India. Second largest consumer of Gold & Silver slashes import premiums; Jewelry Stocks Surge
Retail demand Will Spike Eliminating Silver Stockpiles by 2025. Silver Miners we endorse up to 10 time return.
INDIA SLASHES IMPORT TAXES ON GOLD AND SILVER
Import duties were reduced by 60%
Import duties were 15% for Gold and Silver now set at 6%
India instituting a Silver Squeeze
Shanghai Vaults could be drained in less than 30 days as part of this dedollarization strategy
Retail demand Will Spike Eliminating Stockpiles by 2025
Silver is on the Brink of Extinction
India’s Jewellery Stocks Surge on Gold and Silver Duty Cut
Key Points:
Finance Minister Nirmala Sitharaman announced a reduction in basic customs duty on gold and silver to 6%
Jewellery stocks experienced significant gains following the announcement
The duty reduction has been a long-standing demand of the gems and jewellery industry
Stock Performance:
Senco Gold: Up 6.16% to ₹1,000.80
Rajesh Exports: Surged 5.49% to ₹313.90
PC Jeweller: Jumped 5% to ₹74.16 (upper circuit limit)
Titan Company: Climbed 3.66% to ₹3,371.65
Tribhovandas Bhimhji Zaveri: Rose 2.79% to ₹140.20
Kalyan Jewellers India: Gained 1.54% to ₹537.05
Additional Budget Measures:
Basic customs duty on platinum reduced to 6.4%
Removal of basic customs duty on ferro nickel and blister copper
Silver Academy endorses these 4 miners (not in any order)
Note we have turned down over 23 miners in past 6 months. They just don’t have the game required to be endorsed by our strict ore quality, management, finance and jurisdiction standards
Outcrop Silver (feature tomorrow)
Andean Precious Metals (feature Thursday)
Kuya Silver (video out tomorrow featuring Dr. Quinton Hennigh on how the market hasn’t figured out that this Junior is now in production and may have over 1 million ounces)
Dolly Varden Silver (watch Shawn Khunkhun’s program The Silver Standard below)
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