Investors concerned about the economy and inflation have helped push the price of gold to a record high in 2009, but silver has been on a streak too. The price of silver is up 71% since January compared to a 32% gain in gold. While gold is now trading at an all time d high silver is nowhere near a record. The record high for silver was set in 1980, when Nelson and William Hunt unsuccessfully tried to corner the market. In inflation adjusted dollars that is $132 an ounce!
At $18.36 an ounce, silver is more affordable than gold. Sales of 1 oz American silver eagles have soared past 25 million coins already this year, breaking the old record of 20 million coins set in 2008. Demand is so heavy that the U.S. mint will be unable to make Proof versions of the American silver eagle for the first time since 1986. Dealers also report record high sales for silver bullion rounds and bars that often sell for lower premiums above the price of spot silver than silver coins.
Historically it takes about 16 ounces of silver to buy one ounce of gold. Now it takes 62 ounces of silver to buy one ounce of gold. Many experts expect the gold silver ratio to move toward its historical mean as silver outperforms gold in percentage terms in 2010 and beyond.
Subscribe to:
Post Comments (Atom)
Its a very controversial matter that silver is undervalued compared to gold but according to me its a fact.You have introduced very benificial information here.I Also want to share some useful information to you that is before some time i visited a site that is providing a great coolection of siver coins and US Mint Gold Coins.For more knowledge you can visit that site.
ReplyDelete