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Silver Demand: When Investment Trumps Industrial

Commodities / Gold and Silver 2013 Sep 13, 2013 - 11:08 AM GMT

By: Dr_Jeff_Lewis

Commodities

A slackening U.S. economy typically means that a slowdown in industrial demand for silver will soon be forthcoming. Nevertheless, the re-monetization of silver would more than take care of any such slump in demand.

Even if new supplies of silver are tapped, there is still a considerable premium associated with finding, buying back, smelting and refining the precious metal. Essentially, the physical market for silver would go completely off exchange.


Continuing strong investment demand in the face of falling prices — where a 60 percent price correction has already been seen — practically insures that this increasing component of the demand profile for silver will be like nothing anyone alive has ever seen.

U.S. Mint Reports Record Sales of Silver American Eagles

The U.S. Mint’s sales of silver Eagles reached a whopping 4,406,500 ounces in July of this year, showing a 93.4 percent increase over sales seen in July of 2012 and making a new monthly record.

Furthermore, for the first seven months of 2013, sales of American silver Eagles grew at the fastest pace ever, hitting an equally impressive 29.4 million ounces.

The U.S. Mint even stated two weeks ago that if demand continues at the current pace, “2013 will set a new record for sales.”

Royal Canadian Mint Also Reports Record Volume for Silver Maple Leafs

Last month, the Royal Canadian Mint said that, “year-to-date, we’ve had record volume for silver Maple Leafs, the greatest we’ve had in the over 25 years that we’ve produced them.”

Also, according to a spokesperson for the Mint, “because the Northern Hemisphere summer is traditionally a slow time for coin and metal sales, but that’s not the case this year… when prices drop in the market, investors see it as a buying opportunity.”

India’s Silver Imports Highest in Five Years

In India, silver imports grew an incredible 258.6 percent during the April through July period of this year. This represents the highest level for this four-month period seen in the last five years.

In fact, India’s silver imports for July alone were the second highest of any month observed over the last five years.

While it may well be that Indians are turning to silver in increasing numbers due to the government’s continual efforts to thwart gold buying and as an alternative to its notably depreciating currency the rupee, these silver import increases are still staggering.

For more articles like this, and/or for a breath of fresh silver market reality amidst the stench of denial and technically meaningless short term price obsessed madness, check out http://www.silver-coin-investor.com

By Dr. Jeff Lewis

    Dr. Jeffrey Lewis, in addition to running a busy medical practice, is the editor of Silver-Coin-Investor.com

    Copyright © 2013 Dr. Jeff Lewis- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Dr. Jeff Lewis Archive

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