Silver

Silver And Gold Prices Rising

Summer is usually a quiet time in the precious metals marketplace but this month is different. Silver has started behaving 100 per cent like a precious metal and not as an industrial commodity, and although stocks and copper have been falling, silver has been outperforming gold, which is also on the up.

What is going on here? This is really fully consistent with the bullion marketplace rumors about the bank cartel unwinding its silver futures positions in the quietest month of the year.

You'd expect gold to be falling just a little with stocks under pressure. It's not. And you would anticipate silver to be selling off even much more strongly simply because it's an industrial commodity as well as a precious metal. But it is not.

Silver

Does that mean that the gold cost is being set up for a serious spike, and that silver will not only follow but also outperform in these fireworks? With out the ability to look under the hood from the silver market – and the suspicion is that the market supply is nothing like what the market supposes – we are still within the dark.

But spot the price breakout. Silver is above $19 this morning. Gold is closing on $1,250. If this pattern continues then $1,650 gold by subsequent February could well be accompanied by $30 silver.

Jewelers mentioned the fall in gold prices was caused by a dearth of need at the record price achieved within the previous session. Furthermore, a .2 per cent decline in gold prices to $1,265.80 an ounce in overseas markets, which normally sets the cost trend on the domestic front, dampened buyer sentiment, they said.

In sharp contrast, silver remained in need for the fourth straight day on brisk buying by jewelry fabricators and industrial units for the festival season and marriage season beginning next month.

A rise in silver prices in futures trade and global markets further fuelled the up trend. Need for silver was also driven by record auto sales in the month of August, as the metal is utilized in electrical circuit and battery manufacturing.

 Old Coin Value