Silver prices spiked some 2%, or $0.51, to $20.49 an ounce intraday Thursday before closing the session up $0.37 to $20.14 an ounce.
While silver demand among U.S. traders at the moment is muted, silver demand in India – the world’s biggest buyer of the white metal – is insatiable.
It’s been a volatile year for those investing in gold and silver.
Gold is down some 20% year to date, and silver has lost more than 30%. The yellow metal tumbled more than 30% in the three quarters to June as fears mounted of an early end to the U.S. Federal Reserve’s bond-buying program.
It was a rather quiet week in the silver market. Silver prices dropped about 50 cents an ounce to trade in the $22 an ounce range.
The only real news – major news, that is – in the marketplace was the decision by the Commodity Futures Trading Commission (CFTC) to announce that its probe into silver price manipulation by the large Wall Street banks is closed without any action taken. This is after a five-year probe into the workings of the silver market.
In a week in which the gold price is trading in the $1,335-per-ounce range, all eyes in the gold industry are focused on Denver.
That is the site of the annual Denver Gold Forum, the most prestigious event centered around the world’s largest gold mining companies. The event was held from Sept. 22-25 this year.
What sets this event apart from other events is the participation of nearly all the CEOs of the large gold mining firms along with major gold analysts and institutional investors.
Despite the drop in gold prices so far this year, attendance at the Forum usually falls when gold prices are down, but organizers expected the number of attendees to match or exceed last year’s. This indicates that interest in the sector is still quite high.
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. Precious metals investors are investing in silver now…
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. Anyone investing in silver last month enjoyed gains…
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. Topping silver price news today is how the…
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. Silver prices have rebounded about 28% since the…
If you don’t already know how to buy physical silver, you need to now before it’s all gone…
Even with silver prices down for the year, sales of physical silver have hit record highs. The public has been buying a record amount of silver bullion coins from the U.S. Mint in the first half of 2013, with sales hitting 24.03 million ounces.
The acting director of the Mint, Richard Peterson, said that demand for such coins remains at an “unprecedented level.” He expects record sales for the year overall.
If you want to buy silver bullion coins, act now.
If you want to explore other options, we have a list here of what you should consider. As you bulk up your asset protection strategy, there are a number of ways to include physical silver.