Chart usGOLD   Chart usSILVER  
 
Food for thought
The first step toward making money is not losing it
Ed Easterling  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1286.46-0.18
Silver 19.460.00
Platinum 1417.751.05
Palladium 905.301.40
WORLD MARKETS
DOWJONES 1709815
NASDAQ 458023
NIKKEI 1547752
ASX 56295
CAC 40 4380-1
DAX 94799
HUI 2463
XAU 1021
CURRENCIES (€)
AUS $ 1.4069
CAN $ 1.4274
US $ 1.3129
GBP (£) 0.7903
Sw Fr 1.2072
YEN 137.0130
CURRENCIES ($)
AUS $ 1.0718
CAN $ 1.0871
Euro 0.7616
GBP (£) 0.6020
Sw Fr 0.9194
YEN 104.3530
RATIOS & INDEXES
Gold / Silver66.11
Gold / Oil13.42
Dowjones / Gold13.29
COMMODITIES
Copper 3.140.00
WTI Oil 95.861.31
Nat. Gas 4.060.02
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
In the same category
World Silver Survey 2012 confirms bullish picture
Published : April 27th, 2012
408 words - Reading time : 1 - 1 minutes
( 2 votes, 5/5 ) Print article
 
    Comments    
Tweet

 

 

 

 

The Silver Institute's "World Silver Survey 2012" report hasn’t surprised investors and market participants. Silver mining output hit record highs last year, while silver demand from end users and investors remained robust – despite silver's correction phase which started close to a year ago. The Silver Institute is one of the most important organisations in the silver sector, comprising producers, dealers and numerous companies that use silver. Thus, this study is of significance.

Although global investment demand dropped slightly to 282.2 million ounces (8,766 tonnes) this marginal decline isn’t too consequential, since in 2011 silver registered a higher average price than in the previous year. As a consequence, the financial value of global silver demand reached a new record high of almost $10 billion – a 73% increase on the previous year. Demand for silver coins and medals climbed by 129% to a new record high of 118.2 million ounces (3,677 tonnes). In comparison with 2010 demand for silver bars increased 67% to 95.7 million ounces (2,975 tonnes).

Currently the silver price is moving in a fairly narrow trading range, oscillating around the $31.50 per ounce mark, which is an important resistance level. As the study shows, high investment demand last year was largely triggered by investors' increasing fears of a continuing devaluation of the US dollar and the euro. Many investors are keeping a close eye on the central banks and their moves – especially the US Federal Reserve (Fed) and the European Central Bank (ECB). Fears of continuous global debt monetisation are driving more and more investors to buy gold and silver.

Demand from industrial end users also recorded impressive gains last year. Although towards the end of 2011 demand from industrial clients – which include the jewellery, electronics and medical industries – dropped slightly owing to economic problems in the eurozone, the study by the Silver Institute forecasts a continuation of silver's upward trend for 2012. In the face of growing silver demand at the global markets and a rapid price appreciation it comes as no surprise that global mining companies significantly increased silver production for the reported period.

Exploration activities by junior mining companies and the recovery of mines which had been in disuse contributed to this increase in global silver supply – 2011 being the ninth year of mine supply increases. In comparison with the previous year mine production climbed 1.4% to a new record high of 761.6 million ounces, or 23,689 tonnes.

 

 

Thanks to Goldmoney from www.goldmoney.com
Tweet
Rate :Average note :5 (2 votes)View Top rated
Previous article by
Goldmoney
All articles by
Goldmoney
Next article by
Goldmoney
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis
Most recent articles by Goldmoney
12/12/2013
12/6/2013
11/15/2013
10/1/2013
9/18/2013
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer