Is Silver the New Gold?
For many years consumers and investors have favoured gold, but persistently high prices mean the time has come for silver to reassert its credentials as a jewellery material and a store of value.
For many years consumers and investors have favoured gold, but persistently high prices mean the time has come for silver to reassert its credentials as a jewellery material and a store of value.
Spot gold has ended the week right where it started at, $1724. This shows the great indecision that traders have faced.
The price of silver is surging and so is business at many coin dealers across the country. At Plaza Collectibles, an appraisals shop in Manhattan, owner Lee Rosenbloom says he’s seeing a tremendous demand both in new and older silver coins. “This is probably the strongest demand there’s been in the last 25 years,” he says.
Gold's at $1,300 (U.S.) an ounce and climbing, the world's a confusing mess and you want the security that owning the fabled metal promises. Yet everyone has a different idea about how to invest. David Parkinson offers a traveller's guide to the many paths to buying gold.
Finally a Greek deal turning the Euro higher and China slashing reserve rates, propelled spot gold to 1 month highs.
Spot gold has ended the week right where it started at, $1724. This shows the great indecision that traders have faced.
Spot gold pares early losses as the yellow metal back tracked to touch a session low of $1705.30, before reversing and trading to $1727.
Spot gold advanced further in the North American session as Greek default fears continued to linger as well as a promise from Chinese officials to support the Eurozone.
A rather painful day on the market as precious metals remained range bound with traders and investors sitting on the sidelines awaiting Wednesday’s meeting of finance ministers to vote on new measures agreed by the Greek government. This would determine if the European Union and the International Monetary Fund will release the 130-billion-euro bailout, there is no guarantee that the package will be agreed. Last night saw Moody’s cut the credit rating of Spain, Italy, Portugal, Slovakia, Slovenia and Malta and warned it may cut the AAA ratings of France, Britain and Austria.
A video clip taken from CBC's "The National" with Peter Mansbridge on September 26th, 2011 summarizing gold's price. Cache Metals' CEO, Robert Rosenzweig, is interviewed and provides his insight.
Click the video to begin watching.
As with all investments, the price of precious metals changes rapidly, and as such should be considered volatile. Upon entering the metals market, the risk of loss is solely that of the client. Only individuals who are capable of sustaining a capital loss should consider purchasing precious metals. Acquisitions in precious metals which are financed are considered high risk