![]() The spread between silver and gold, a closely watched gauge for the precious metals markets, has risen to its highest in the third quarter since a brief silver frenzy following the financial crisis. stocks - popularly known as the “fear index” - briefly jumped to its highest since January 2009 earlier this year.įactbox: Mints struggle to keep up with silver coin demand MOM AND POPĭealers and mints trace the supply squeeze to a burst of buying by mom-and-pop investors in the United States, who scrambled to scoop up coins they considered to be at bargain levels after spot silver prices in early July sank to six-year lows. The CBOE Volatility index, or VIX, of U.S. Some investors like to own physical metal to protect from volatility in other assets, particularly currencies and stocks, and to hedge against geopolitical and economic upheaval. ![]() mint halted sales for almost three weeks after running out of “blanks”, which are used to make coins. While demand has risen in response to the slump in spot prices to $14.33 an ounce in late July and its subsequent drop to fresh six-year lows below $14 an ounce in August, mint officials also said they were caught out by the sudden interest in coins. But in fact it is a (crunch in) manufacturing capacity.” “There seems to be a bit of frenzy as people think there is a shortage of silver. “Silver demand is absolutely through the roof,” said Neil Vance, wholesale manager at the Perth Mint. In Australia, the Perth Mint sold a record of more than 2.5 million ounces of silver this month, nearly four times more than in August, and has begun rationing supply of a new line of coins this month, a mint official said. Mint began setting weekly sales quotas for its flagship American Eagle silver coins in July because it can’t meet demand, and the Canadian mint followed suit after record monthly sales in July. ![]() One ounce silver coins undergo washing at the cleaning facility at the United States West Point Mint facility in West Point, New York June 5, 2013. ![]()
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