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.

 

 

Thanks to Goldmoney from www.goldmoney.com
Companies Mentionned : Bullion | Metals X |
Data and Statistics for these countries : Japan | All
Gold and Silver Prices for these countries : Japan | All
<< Previous article
Rate :Average :0 (0 vote)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
China is about to overthrow Lond...
28 Febneville
This a good slap in the face for the downright crooked bullion banks,traders that have been front running ie algorythm trading etc It had to ta...
A Salvo in the Battle for the Go...
27 Febovertheedge
I would argue that the devil is in the details, i.e. the definition of money. What the people of the US are using is currency. Currency bei...
A Salvo in the Battle for the Go...
26 FebFrankinca1
Sort of written for a PHD in economics, which gold believers (myself) are not often that well educated, have difficulty following. The definition o...
A Salvo in the Battle for the Go...
26 Feb07788525833
The dollar has a monopoly over all other types of money which is rammed down peoples throats by gun and drones , any one wanting to change this...
In Search of the Magic Wand: Car...
25 FebDoom
Yes, stay away from University of Phoenix, a school with a 9% graduation rate, that only gets students because it spends $200,000 a day on Google a...
Emails From Kiev: Free Speech Va...
25 Febovertheedge
"The problem is, the asshats associated with Poroshenko are even worse than he is." I'm assuming you mean the predators in the US White Ho...
The Bull Case For Gold This Year...
25 Febdepourcq1
You talked about all the wrong reasons that gold will rise or fall, their is only one that everyone should know. The US has a debt of 18.134 trilli...
The Bull Case For Gold This Year...
25 Febneville
The fact that you are very lowly rated might be one of two things .1.You have been playing this card to often (Bear Joker) 2,The other is that you ...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Rockwell(Cu-Gems-Ni)RDI.TO
Announces Filing of Preliminary Short Form Prospectus
CA$ 0.25+2.04%Trend Power :
Corporate news
Cardero Res.(Ag-Au-Cu)CDU.TO
Announces Proposed Reverse Takeover of Artha Resources
CA$ 0.04+14.29%Trend Power :
Corporate news
Goldcorp(Cu-Le-Zn)G.TO
declares third monthly dividend payment for 2015
CA$ 26.64-3.23%Trend Power :
Corporate news
Integra Gold(Gems-Ag-Au)ICG.V
Files PEA Technical Report on SEDAR
CA$ 0.32-2.99%Trend Power :
Corporate news
Fjordland Expl.(Ag-Au-Co)FEX.V
Geophysical Survey Outlines Strong Conductors on South Voisey's Bay Nickel Project
CA$ 0.03+100.00%Trend Power :
Corporate news
Clifton StarCFO.V
Announces Private Placements and Settlement of its Osisko Litigation Raising $11 million
CA$ 0.18+80.00%Trend Power :
Corporate news
Marathon GoldMOZ.TO
Hits 3.02 g/t Au over 32.9 meters (TT) in Step-Out Drilling, Valentine Gold Camp, Newfoundlan
CA$ 0.30+10.91%Trend Power :
Corporate news
Chalice Diamond(Gems)COD.V
Sulliden Mining Capital to acquire Coastal Gold, an Advanced Gold Project in Newfoundland
CA$ 0.02+0.00%Trend Power :
Corporate news
Aurcrest gold(Ag-Au-Zn)AGO.V
Announces Resignation of VP Exploration
CA$ 0.02+0.00%Trend Power :
Corporate news
Tinka Resources(Ag)TK.V
Announces AGM Results
CA$ 0.28+5.56%Trend Power :
Corporate news
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.