Article in Friday's WallStreetJournal
Posted: Sat Sep 18, 2010 1:11 pmFriday's Wall Street Journal had an interesting article on gold & silver. Everthing below is a quote from the article on Sept 17 page C1/C5:
"Barclays Capital estimates the amount of silver used for fabrication will rise 5.4% from a year ago, not enough to soak up silver supplies on its own. By year's end there will be a surpluse of 4,480 metric tons of silver, as production from mining and recycling outstrips demand ..."
"Meanwhile, hedge funds have been adding silver into their portfolios since mid-2010 ..."
"sales of American Eagle silver coins at the US Mint have risen an estimated 17% in the first 3 quarters of this year, which is down from last year, when sales soared 47%"
"as prices rise, some buyers are shifting toward junk silver coins ... Junk silver sales have climibed to 35% of total silver sales, up from 22% last year ..."
"Record silver prices have lured banks and coin collectors who have held onto thes coins back into the market."
"The recent strong silver rally has driven the traditional relationship between gold and silver prices back down toward the typical raito of 62 to 1. That ratio was in the upper 60s for much of the summer ..."
"silver prices tend to swing more widely than gold, throwing the ratio out of wack at times."
"Silver is still well below the record high hit in January 1980 ... On an inflation adjusted basis, silver prices are even further from their 1980 high. The last time silver was higher than Thursday was on Oct 15 1980, when it settled at $20.98 --- $55.94 in 2010 dollars."
trasncribed from the paper; any mis-spellings are my own.
"Barclays Capital estimates the amount of silver used for fabrication will rise 5.4% from a year ago, not enough to soak up silver supplies on its own. By year's end there will be a surpluse of 4,480 metric tons of silver, as production from mining and recycling outstrips demand ..."
"Meanwhile, hedge funds have been adding silver into their portfolios since mid-2010 ..."
"sales of American Eagle silver coins at the US Mint have risen an estimated 17% in the first 3 quarters of this year, which is down from last year, when sales soared 47%"
"as prices rise, some buyers are shifting toward junk silver coins ... Junk silver sales have climibed to 35% of total silver sales, up from 22% last year ..."
"Record silver prices have lured banks and coin collectors who have held onto thes coins back into the market."
"The recent strong silver rally has driven the traditional relationship between gold and silver prices back down toward the typical raito of 62 to 1. That ratio was in the upper 60s for much of the summer ..."
"silver prices tend to swing more widely than gold, throwing the ratio out of wack at times."
"Silver is still well below the record high hit in January 1980 ... On an inflation adjusted basis, silver prices are even further from their 1980 high. The last time silver was higher than Thursday was on Oct 15 1980, when it settled at $20.98 --- $55.94 in 2010 dollars."
trasncribed from the paper; any mis-spellings are my own.