Every Cloud Has a Silver Lining at MoneyNews
Every Cloud Has a Silver Lining
By Ed Moy at MoneyNews
All the media attention about U.S. investors being mixed about gold has stolen the spotlight from silver, which will likely have a record-breaking year.
Year-to-date sales of American Eagle silver bullion coins from the U.S. Mint are 39.2 million ounces with five weeks left for additional sales. That is a big jump from 2012 sales of 33.7 million ounces. The historic record happened in 2011, when sales peaked at 39.9 million ounces. And to put this in perspective, consider that pre-financial crisis sales were pretty steady at 10 million ounces a year.
Silver is generally seen as the more accessible cousin of gold. It is a precious metal, but costs much less than gold and it has many industrial uses.
American Eagle silver bullion coins are the most popular way to buy silver in the United States for individual investors. And because of its accessibility, silver is generally a good indicator of individual investor sentiment toward precious metals, and historically is one indicator for future gold demand.
So what is silver demand telling us?
Read the rest of the piece at MoneyNews.
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