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 1307.800.91
Silver 20.70-0.03
Platinum 1474.271.52
Palladium 875.40-0.85
WORLD MARKETS
DOWJONES 16961-119
NASDAQ 4450-23
NIKKEI 15458173
ASX 5574-3
CAC 40 4331-80
DAX 9644-150
HUI 2426
XAU 1023
CURRENCIES (€)
AUS $ 1.4298
CAN $ 1.4516
US $ 1.3434
GBP (£) 0.7906
Sw Fr 1.2146
YEN 136.8200
CURRENCIES ($)
AUS $ 1.0644
CAN $ 1.0815
Euro 0.7444
GBP (£) 0.5892
Sw Fr 0.9048
YEN 101.7900
RATIOS & INDEXES
Gold / Silver63.18
Gold / Oil12.84
Dowjones / Gold12.97
COMMODITIES
Copper 3.270.00
WTI Oil 101.89-0.18
Nat. Gas 3.79-0.06
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Silver demand surging in Japan ?
Published : December 05th, 2012
272 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet

 

 

 

 

Gold and silver faced another selling onslaught at the Comex futures market yesterday, with the most actively traded gold contract (February) losing 1.5% on the day to settle at $1,695.80 per troy ounce. Silver was down 2.28% to $32.99. Both metals have regained some ground in trading this morning, and are holding above key round numbers at $1,700 and $33 respectively. Somewhat surprisingly given this action in precious metals, the dollar also sold off yesterday – the Dollar Index down 0.25% to 79.68.

On Monday we talked about the rapid rise in American Eagle gold coin sales in America, and Robert Wenzel’s blog now carries news of shortages of small silver bars in Tokyo. Reports from Japan seem anecdotal at this stage, but given all the talk over there about new beefed-up efforts from the Bank of Japan to devalue the yen, it wouldn’t be at all surprising if the Japanese were increasingly looking to precious metals as a way of preserving wealth.

The key point of course is that, as the chart below from Casey Research suggests, the number of people in many developed countries who have even seen bullion coins or bars – let alone owned them – is vanishingly small. Saving via precious metals instead of bank deposits or bonds remains a fringe activity, to say the least. Great for those of us wise enough to see the opportunity.


 

In currency wars news, the Brazilian government – in response to the “threat” of the real appreciating too much against the US dollar – has announced a string of protectionist measures designed to protect Brazilian industry. The beggar-thy-neighbour games continue.

 

 

Thanks to Goldmoney from www.goldmoney.com
Data and Statistics for these countries : Japan | All
Gold and Silver Prices for these countries : Japan | All
Tweet
Rate :Average note :0 (0 vote)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
MOST READ
TOP RATED
MOST COMMENTED
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