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Silver, gold prices on the rise

Silver has been rocket powered since June 1, going from $15.90 a troy ounce to $20.13 by July 12, a gain of almost 27 percent in six weeks.

Gold was merely strong, forging ahead from $1,212 to $1,334.10 a troy ounce in the same period for a gain of 10 percent.

The Silver Institute issued a report July 13 headlined by the news that silver has risen in price by nearly 45 percent since the beginning of the year.

Collector and bullion coin buyer response to higher prices has been to buy more coins made of the precious metal.

“Coming on the heels of record global silver coin demand in 2015, silver coin sales increased in the first quarter of 2016 by 29 percent globally, according to the GFMS Thomson Reuters Quarterly Coin Sales Survey,” the Silver Institute said.

But demand for silver bars has weakened in the first six months of the year, the Silver Institute pointed out.

See Connor Falk’s related story about bullion buying.

This article was originally printed in Numismatic News.
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