Silver prices may have fallen faster than gold prices in the last one year, but imports of the silver metal rose significantly in the period. Silver imports in first half of 2015 have surged 35% to 3,824 tonnes. Imports of the white metal were at record high of 6,843 tonnes in 2014.
Silver imports normally rise in the second half as demand increases for the festive season and for exports before Christmas. As there are lesser facilities for making silver articles, the demand starts from August onwards, much ahead of the festivals. In the international market, Silver prices have fallen 35% from a year ago while gold prices are down 23%. Silver prices were trading around $21 per ounce while gold was around $1,300 per ounce during 2014.
Silver prices have fallen more sharply than gold as the white metal also tracks base metals. Globally, investors of gold have started unwinding their investments in gold exchange traded products. Largest among them, SPDR has seen its holding falling from 1,300 tonnes to 690 tonnes in last two and half years.