US Silver jewellery imports rise in Jan-May

New York (Aug 6)  Imports of silver jewellery to the U.S. jumped 11% through the end of May, as consumer desire for silver jewellery increased significantly this year, according to the Silver Institute, a non-profit silver industry association.

The U.S. is the world's largest importer of silver jewellery according to the association. This contrasts with gold jewellery, for which the U.S. is the third largest consumer after China and India according to World Gold Council data.

U.S. imports from Thailand are up 18.5% through the end of May while China showed an increase of 14% in the same period.

GFMS Thomson Reuters (GFMS), a precious metals consultancy, estimates that globally silver jewellery will grow 5% in 2015. However, the consultancy also predicted in May that silver prices on average would decline 14 percent to $16.50 per ounce this year.

Source: BullionStreet