Silver Institute: Investors May Accumulate 1 Billion Ounces Of Silver In Next Decade
Investors may increase their net silver purchases by as much as 1 billion additional ounces in various investment instruments over the next decade, says a report issued by The Silver Institute. This would be on top of more than 860 million purchased as an investment since 2006, the report says. The report was produced by the consultancy CPM Group. The dollar value of the silver market, which includes trading volumes on the major futures and options exchanges and clearing volumes of the London over –the-counter market, combined with newly refined silver supply, stood at $5.1 billion in 2013, the report says. At the close of 2013, at least 2.3 billion ounces of silver were held in bars and coins around the world, according to the report. “Even in these days of precious metal price volatility, we are seeing areas of growth within the silver investment arena,” says Michael DiRienzo, executive director of the Silver Institute. “This year’s progression in silver exchange-traded funds, for example, suggests that investors are very keen to acquire and hold the white metal.”
First Poll Shows ‘Yes’ Side has Upper Hand Ahead Of Swiss Gold Referendum
(Kitco News) – A slim majority of Swiss citizens said they would vote yes to force the Swiss National Bank to increase and hold on to their gold reserves, according to the country’s first opinion poll.
Comex Gold Softer On Profit-Taking, Stronger Dollar; Loss Extended Slightly After CPI
Gold futures are lower Wednesday on profit-taking in response to a stronger U.S. dollar, with some also citing reduced worries about disinflation after a U.S. consumer price index report.
Read moreGlobal Nonferrous Metals Exploration Budget Fell 25% In 2014
(Kitco News) – Miners’ nonferrous exploration budgets dropped 25% in 2014 as higher costs, lower grades and market uncertainty took a toll, according to a metals consultancy group.
U.S. CPI Rises 0.1% In September
(Kitco News) – U.S. consumer prices picked up modestly in September, after a weak August report, according to the latest data from the Department of Labor.
Read moreGold Weaker On Corrective Pullback, Profit Taking
(Kitco News) – Gold prices are modestly lower in early U.S. trading Wednesday, on a mild corrective pullback and chart consolidation from recent gains that saw prices Tuesday hit a six-week high.
Gold Ends Up At 6-Week High, On More Safe-Haven Demand, Bargain Hunting
Gold prices ended the U.S. day session moderately higher and scored a six-week high Tuesday. Safe-haven demand and bargain hunting continue to flow into the gold market, which in turn have also worked to improve the chart posture for the precious meta…
Read moreIndian Gold Demand Jumps During Run-Up To Diwali Festival
Gold demand from India picked up significantly ahead of the approaching Diwali festival, analysts and traders reported.
Read moreBarclays: Swiss Trade Data Suggests Palladium Market Remains Tight
Trade data for Switzerland suggests that the palladium market remained tight in the third quarter, says Barclays.
Read moreGlobal Effort Needed To Combat Ebola – Randgold CEO
(Kitco News) – As the current Ebola virus continues to claim lives throughout West Africa, an executive with African-based Randgold Resources Ltd. (LSE:RRS)(NASDAQ:GOLD) believes that there needs to more action and less talk from the international comm…
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