Silver is back in the spotlight with the metal witnessing a surge in demand, especially in China, per the report. This could provide a boost to silver prices and its ETFs – iShares Silver Trust (NYSE:SLV) and abrdn Physical Silver Shares ETF (NYSE:SIVR) tracking the bullion.
China Silver Demand Hits Record High
According to a Wednesday post on X by The Kobeissi Letter, China silver imports reached a record high of approximately 836 tonnes in March, up 78% from February and 173% above the 10-year seasonal average for March. Year-to-date, silver imports are up to approximately 1,626 tonnes, the highest on record.
The surge was driven by strong retail and solar demand. Investments in small silver bars climbed as substitutes for high-priced gold, according to the market commentator’s post. The solar …
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