Silver Investment Demand Up Over 30% in 2013

Société Générale has issued a research note saying that investors looking to allocate funds to the precious metals may buy silver as a “cheaper alternative” to gold. 
In a report e-mailed today and picked up by Bloomberg, the bank cites the “healthy” improvement in silver coin demand and exchange-traded product purchases recently. The bank says that measurable silver investment in 2013 is up by more than 30% and if sustained, this year’s surplus should be absorbed. This could lead to a silver deficit.

Silver eagle bullion coin sales soared to a record amount in February 2013 – totaling 3,368,500 ounces.  February’s record sales followed record coin sales in January. Year-to-date silver sales for the U.S. Mint are 10.8 million ounces, which is over 10% higher than the next best period from 2011.

Silver Philharmonics As Low As $2.39 Over Spot At SDBullion.com!

From Goldcore:

Today’s AM fix was USD 1,584.25, EUR 1,214.82 and GBP 1,044.33 per ounce.
Yesterday’s AM fix was USD 1,578.00, EUR 1,214.13 and GBP 1,049.06 per ounce.

Silver is trading at $28.93/oz, €22.30/oz and £19.16/oz. Platinum is trading at $1,588.50/oz, palladium at $722.00/oz and rhodium at $1,200/oz.

Gold fell $1.80 or 0.11% yesterday in New York and closed at $1,573.80/oz. Silver slid to a low of $28.43 and finished with a loss of 0.07%.


Cross Currency Table – (Bloomberg)

Gold snapped four days of losses due to concerns that central banks from the U.S. to the UK, Europe and Japan will continue ultra loose monetary policies and currency debasement.
 Silver Spot $/oz 05MAR2012-05MAR2013 – (Bloomberg)

Silver, platinum and palladium also advanced after recent falls.

Société Générale has issued a research note saying that investors looking to allocate funds to the precious metals may buy silver as a “cheaper alternative” to gold.

In a report e-mailed today and picked up by Bloomberg, the bank cites the “healthy” improvement in silver coin demand and exchange-traded product purchases recently.

The bank says that measurable silver investment in 2013 is up by more than 30% and if sustained, this year’s surplus should be absorbed. This could lead to a silver deficit.

Silver eagle bullion coin sales soared to a record amount in February 2013 – totaling 3,368,500 ounces.

February’s record sales followed record coin sales in January. Year-to-date silver sales for the U.S. Mint are 10.8 million ounces, which is over 10% higher than the next best period from 2011. The record sales in that period may have contributed to silver’s surge to over $49/oz on the 28th of April 2011.

Silver support is at the $26/oz level and with silver’s supply demand fundamentals remaining even more compelling than gold, investors are diversifying their precious metal holding by going long on silver.

Gold remains nearly double its nominal high of $850/oz in January 1980. Silver is close to half of its nominal high in 1980 and its recent high in April 2011 – both close to $50/oz.

NEWS
Gold Snaps Four-Day Decline on Outlook for Extended Stimulus – Bloomberg

Gold snaps 4-day decline, central bank meetings in focus – Reuters

CME’s Asia Business Expanding 35% Stoked by Gold to Currency – Bloomberg

U.S. Mint Raises Premiums on Precious Metal Coins as Metal Prices Decline – Coin Week

COMMENTARY
Gold Is Over – Just Like in 1976 – Casey Research

The Roadmap To $4,866 Gold Within 2 Years – Economic Crisis

Unusual things are happening in gold and silver – Sprott – Mineweb

MORGAN STANLEY: The Gold Bull Market Isn’t Over, And The Reasons To Own It Are ‘Evolving’ – Business Insider

 

SD Bullion

Comments

  1. Maybe SOCGEN doesn’t know putting money into ETFs is letting JP Morgan rehypothicate….

  2. They apparently didn’t get the memo about declining “investor” demand.  Those crazy French.  LOL
    /sarc off

  3. the silver certs. will explode 1st. a Sliver Run to the Bank hoping that ‘magically’ the paper can be used as industrial purposes. Hi O’ SILVER and away!!

    • Man those are ugly, every one I have received went for an acetone bath

    • AGREE 100%!  Putting paint on the shiny stuff is like building the most beautiful birch wood kitchen cabinets one can possibly imagine and they slopping paint all over that exquisite wood.  ACK!  PFFT!!
       

  4. The truly orwellian state of the world is something that I struggle with every day ( as most here probably do ) yet the vast majority of people walk around or rather sleep walk around in a fog.
     
    Silver and Gold are such an east sell theoretically, yet we see them relentlessly, and overtly pounded down, while the media for the most part talk metal doom with glee. Meanwhile money printing prevails, savers get slaughtered, stock markets levitate for no good reason, and some ass hole at the airport has to stick his hands down your pants because the terrorists who we are arming and training might come here to hurt us. You can get hard time for non violent crime and banks are prosecution free for committing crimes that the average joe would get shot for.
     
    Welcome to the brave new world, let’s party like it’s 1984

  5. me thinks the luciferians , want to close the 1-50 ratio  ,create new wealth 

  6. If demand really is up 30%, why is the price of silver going down then? Could they have sold 30% more paper silver? I just can’t believe that the price of physical silver is going down if people buy more of it

    • The price of paper determines the price of physical, and most facts and anecdotes point to robust physical sales as paper is dumped, and dumped and dumped.
       
      It is in my view clear proof that the market is heavily manipulated, as all of us tinfoil hat wearing nutjobs say.

    • @Caspar:  The truth is out there.  The proof is all around you (appologies to the writers of The X-Files).  Just examine today’s trading.  A rush of paper selling pushed the price down.

      Having trouble with 30%?  Heck, there are smash days when you can find paper exceeding silver at a 500-to-1 ratio.  Such trading action is not conducted with the goal of maximizing the efficiency of unloading the paper position in question.  All money managers who have worked with large position know it’s best to work multiple orders over time to get out of a position without rushing the “exit” and breaking down the door frame if not the entire side of the house in the process.  Part of the reason why media commentators never see the smashes as unusual for non-economic qualities has everything to do with the fact that the largest trade most media people have done in their financial reporting lives involves the swap of their rookie Fernando Venezuela baseball card.

    • With these demands, I believe that silver will go up very fast on the long term. The reason why the price of silver is going down now is due to the cartel’s manipulation. Therefore, the supply and demand will rule over the paper prices one day.

  7. Silver sure is cheap compare to gold so it’s no surprise that its demand is growing faster than gold. I personally buy silver because it is a very cheap precious metal. With all these demands, I’m still surprised that silver is only at 28.80$ per ounce right now.

    • This is one of those “unintended consequences” that occur when people try to do great things.  While all this paper pounding IS helping to support the value of our crummy fiat currency, it is also giving us the marvelous gift of affordable PMs.  As some say about the 401K plan company match, “When someone offers you FREE money, TAKE IT!”.  Well, PMs may not be free but they sure are a lot cheaper than they would be without all this price manipulation.  So, when cheap PMs are offered… BUY them!  :-D
       

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