SILVER SURGES ON RECORD DEMAND
Silver Posts Longest Rally in 45 Years as Global Investor Demand Explodes
After rising in price for 12 straight days, silver has posted its longest rally in at least 45 years as global demand for an investment alternative grows amid concerns that the global economy is heading for a fall.
Since 1913, silver has increased 3.78% compounded annually. Since 1971, silver has increased 7.00% compounded annually. Since 2001, silver has increased 15.17% compounded annually.
So far in 2014, silver prices have surged by 13%.
Silver premiums are increasing as demand soars.
Trading volume has more than doubled versus the average in the past 100 days.
The U.S. Mint sold 42,675,000 American Eagle Silver Bullion coins in 2013, which is 26% more than the 33,700,000 coins sold in 2012. This is a new single year record for the most purchased since the U.S. Mint began producing the one-ounce silver coin in 1986. And so far, 2014 is starting off with a “bang” with sales of silver coins by the U.S. Mint almost quadrupling in January to 4.78 million ounces from December.
And it’s not just the U.S. Mint. Mints around the globe are reporting sharp increases in investor demand. Sales of the Austrian Silver Philharmonic increased 62% in 2013. The Canadian Silver Maple Leaf saw a 60% increase, and sales of the Perth Mint’s Silver Kookaburra bullion coin rose by 41% last year.
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Some economists have argued that the rapid rise in stocks could encourage some older Americans who delayed retirement during the downturn to finally to leave their jobs.
U.S. consumer debt soared by $241 billion in the last quarter of 2013, the sharpest quarter-to-quarter spike since 2007.
Investors will be looking for Fed’s view on the economy.
So far this year only 54% of the 360 Asian companies that have reported quarterly earnings have beat profit expectations.
U.S. Financial Markets
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Explosions are taking place, fireworks are being thrown, large fires have broken out in Independence Square, and the death toll is rising in the worst violence seen in weeks.
President Nicolas Maduro blames anti-government protests on outside influences, which he says wish to “seek to generate violence in the country.”
Scientists have been left scratching their heads over the quakes, which are becoming more frequent each day.
Hong Kong man becomes 7th banker to die under mysterious circumstances.
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