Silver investors should be giddy right now.
Silver prices have experienced their best start to the year since 1983. Since Jan. 1, silver has already gone up 15 percent – thanks in part to the surge in gold, Switzerland’s detachment from the euro, and other market factors.
According to SilverSeek’s Peter Cooper:
“Silver prices move in tandem with gold and are leveraged to the upside and vice-versa. The three-year correction in precious metal prices took the silver:gold price ratio to above 70, a historically high level, leaving considerable room for silver price outperformance as the gold price moves back up.”
Silver coins are another strong source of demand for the white metal as of late.
The U.S. mint reported impressive sales numbers of bullion 2015 Silver Eagles, released on Jan. 12. Almost 3 million of the coins were purchased on the first day they were available. “Both the proof and bullion versions of the American Eagle silver coins dominated on the United States Mint sales charts,” reported Silver Coins Today.
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