Silver prices, which jumped the most in more than four months yesterday, may extend a rally today as as signs that the U.S. economy is slowing boosted the appeal of haven assets. Silver and gold are rebounding after declines last year that were the biggest since 1981.
About $3 trillion has been erased from the value of equities worldwide this year amid a slump in emerging-market currencies and slowing expansion in China. The global turmoil reignited demand for precious metals after some investors lost faith in them as stores of value in 2013. Sales of gold coins by the U.S. Mint rose 63 percent in January to the highest since April, while silver purchases almost tripled.
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