Online:
Visits:
Stories:
Profile image
By dailynewsforyou
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Silver Prices: 1 Factor Could Be a Game-Changer for the Silver Market

Wednesday, March 16, 2016 3:32
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Fundamentals suggest silver prices could skyrocket. Don’t buy into the rhetoric suggesting the gray precious metal isn’t worth it.

It is truly understandable what the mainstream is trying to say; the global economy is struggling and silver is an industrial metal. This means less demand and as a result, they are selling the precious metal. Sadly, in the midst of this, demand from investors continues to be ignored. It’s soaring.

Understand this: investors could impact the silver market in a big way and send silver prices skyrocketing in very little time.

Don’t believe it? Then look at the evidence yourself. Despite silver prices remaining subdued, investors are rushing to buy at an astonishing pace.

In the first two months of 2016, U.S. Mint sold 10.73 million ounces of silver in American Eagle coins. In the same period a year ago, it sold 8.55 million ounces of silver in American Eagle coins. (Source: U.S. Mint, last accessed March 14, 2016.) In simple words, investor demand for silver at the U.S. Mint is running 25% higher than in the previous year!

Here’s what you have to keep in mind: 2015 was a record year of silver sales at the U.S. Mint—it sold 47 million ounces of silver then. At the current pace, with selling 10 million ounces of silver sold in the first two months, it’s on pace to sell 60 million ounces in 2016.

Don’t for a second think that the U.S. Mint is the only one reporting stellar silver demand figures. We see this phenomenon prevailing across the globe.

Consider the Perth Mint—the biggest mint in Australia and a reputable one in the global economy. In the first two months of 2016, it sold 2.52 million ounces of silver. In the same period a year ago, this figure was only 978,076.

In 2015, the Perth Mint sold 11.59 million ounces of silver—53.2% higher than 2014.

Read Full Article On ProfitConfidential

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.