Wednesday, October 3, 2018

Silver sales across the globe exploded in September as world's most undervalued asset becomes a go to investment

As the paper silver price begins to disconnect a bit from its sister metal gold, mints across the world saw incredible sales number for what many deem as the most undervalued asset in the markets.

In September the U.S. mint saw a huge reversal from previous months this year by announcing that they sold over 2.9 million ounces which was a 1.4 million spike from August and nearly double the volume from that month.

Graphic courtesy of SRS Rocco Report
Demand for the U.S. Mint Silver Eagles spiked again at the end of the September pushing sales nearly to three million.  In a little more than a week, Silver Eagle sales jumped from 1.9 million to 2.9 million, nearly doubling from the previous month.  Sales of Silver Eagles in August were only 1.5 million versus 2.9 million in September. - Silverseek
Yet the U.S. mint was not the only major wholesaler to see volumes of their products shoot up in September.  Over at the Perth Mint, silver also also doubled from 520,000 ounces in August to over 1.3 million last month.
Sales of gold products by the Perth Mint surged in September to their highest since January 2017, while silver sales more than doubled from August to mark an over two-year peak, boosted by lower bullion prices, the mint said on Wednesday. 
Silver sales soared 151 percent from August to 1,305,600 ounces, their highest since March 2016. 
From a year earlier, sales advanced about 87 percent. - Kitco
And of course the biggest irony is that silver prices remain below $15 per ounce thanks to the short-side speculation in the paper markets.  And if volume continues to increase thanks to growing fears over the global financial system, it means that the potential for a short squeeze in silver is extremely probable, with their still being time to get in on an asset class that is extraordinarily undervalued.


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