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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (3700)	7/13/2001 6:24:32 AM
From: Raja	Read Replies (2) \| Respond to of 8010

Spoke on Thursday 12th July with one of the London bullion merchants (from whom I have purchased several hundred kilos in the past for export for somebody). The manager said that 5-20 tonnes has become a "common" request from India, and he said he doesn't think it's a problem to get the quantities (actual Quote: "...as there should be enough lying around somewhere in London vaults..." ) Today he will confirm by fax availability and his commission rate. Twenty tonnes makes up one 20ft container load which is then shipped by sea cargo to Mumbai, and onwards to other cities from there. Meanwhile, last night a further enquiry came in to me for 10 to 20 tonnes of 99.8% (repeat 99.8% not 99.9%). I didn't know there was such a purity sold as well? Now let me be clear and explain that i am NOT in the bullion trade, nor am I in the jewellery trade. I just have plenty of relatives in this business! <G> So, recently (I think from early this year onwards) when the Indian government relaxed the import laws and started providing import licences to selected few parties, these Indian importers are now looking for trusted "middle-men" to do their "donkey work" for them in London and help export the silver. Beforehand, only the Indian state banks could officially bring in the bullion for traders.....I think, I may be wrong though. In conclusion, I 'guestimate' , from my talks with the London bullion merchant, that a few hundred tonnes per month? may be exported to India alone!! RAJA