Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Silver demand surging in Japan ?

IMG Auteur
 
Published : December 05th, 2012
272 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

 

 

 

 

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.

 

 

Data and Statistics for these countries : Japan | All
Gold and Silver Prices for these countries : Japan | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
The Deepening Deep State
03:24Jim C.
Kunstler wasn't concerned about 'The Deep State' when he voted for Obama...since Obama's agenda seemed to coincide initially with Kunstler's own. ...
Documents Prove Massive Rigging ...
09 DecThe Recusant
Yes, yes. the PMs are manipulated. Perhaps some bank will have its wrist slapped. Then everything will return to normal. More price fixing and bank...
Silver Demand Ready To Explode
09 DecThe Recusant
Sorry Andy, but I don't believe in Santa anymore either. Believing silver "must" explode is no different than the market "must" implode. I've been ...
Guest Post: How to Trigger a Sil...
09 DecThe Recusant
Well, there you have it. Blatant manipulation and cover up by the CFTC and DOJ. So, what else is new? Let's see what Trump will do to stop this! [s...
Indian demonetization effect: 15...
09 DecJ T.
From reading the comments at the end of the article mentioned above in economictimes.indiatimes, the people who read it, if they actually did, are ...
India Confiscates Gold, Even Jew...
09 DecJ T.
Hopefully the naive, or ignorant, or worse, willfully ignorant, who have swallowed (once again) the MOP's lie (that's the Ministry of Propaganda......
The Rediscovery of Men
07 Decaccording-1
and now bernie has a brand new house. i smelled that the fix was in when he said he was running against filthy hillery. then at the perfect moment...
The Rediscovery of Men
07 Decaccording
i suspect that georgie S and his goons will crash the coin and try to starve our guts and spirits with fears we havnt felt perhaps ever. it will be...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS