Don’t listen to so-called analysts. There is real demand in precious metals.
Bullion.Directory precious metals analysis 29 October, 2014
By Christopher Lemieux
Senior FX and Commodities Analyst at FX Analytics
Do not listen to those so-called experts and analysts that say there is no demand for precious metals. Global mint sales continue to increase as prices remain near yearly lows.
Precious metals got monkey-hammered after a more hawkish FOMC minutes. Regardless of what the Fed tells the public, investors are hedging their policies with silver rounds. Silver remains near four-year lows, and retail investors are scooping up physical bullion.
According to the US Mint sales report, consumers bought nearly 60,000 ounces of silver American eagles just in October. This is 21 percent higher than the 48,500 ounces sold in October 2013.
Silver continues to be seen as a bargain pickup against gold with the gold-to-silver ratio standing at 70.82 (gold at $1,211.1 per ounce, silver at $17.10 per ounce). Investors continue to believe that silver remains undervalued given its sharp decline.
The US Mint data showed that gold still remains in demand with over 58,000 ounces bought in September, the highest level since last January and double the demand seen in August.
Retail investors hold silver as a long term investment, and four-year lows offer a great place to start adding to the portfolio.
Precious metals are seen as insurance against the actions of a few that affect the many.
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