Physical investment in silver over the past two months has increased
worldwide, primarily bolstered by demand from the two largest markets,
the United States and India, according to Valcambi Suisse.
The demand for American Eagle 1-ounce silver bullion coins in
September reached 4.14 million coins, with 4,365,000 recorded in
October through noon Oct. 29 with additional sales expected.
October's sales of American Eagle silver bullion coins by the U.S. Mint are
already the third highest monthly total for calendar year 2014. March
leads the way with 5,354,000 coins followed by January with 4,775,000.
The calendar year 2014 total tallies 36,616,000 silver American
Eagle bulllion coins.
According to Valcambi Suisse, weaker silver prices are encouraging
bargain hunting. In India, specifically, festival buying for Dusshera and Diwali has also driven demand.
"In spite of this apparent support, the silver price has, so
far, failed to regain much of the ground it lost to gold last month
(when the gold:silver ratio briefly exceeded 72:1, having started the
year at around 62:1)," according to Valcambi Suisse.
"Looking ahead, the recent strength of physical investment seems
unlikely to be maintained in the coming months."
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