“Silver imports in July 2013 are the second highest in any month in the last five years.  On the other hand, gold has seen a steep decline in imports in June (only 8.908 MT) compared to 37.618 MT in May, the second lowest in last five years. Experts say traders are importing more silver because of trade restrictions on gold by the Government of India since June 3. The decrease in silver prices over the last three months is also driving imports. ‘Due to restrictions on gold, these figures were expected and traders are waiting for gold prices to fall further before they start buying,’ said Kishore Javeri of Javeri and Company.”

http://articles.timesofindia.indiatimes.com/2013-08-02/ahmedabad/41006340_1_silver-imports-gold-imports-world-gold-council

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