Precious metals are entering the time of year when silver and gold
traditionally make their strongest gains, according to Mike Fuljenz in
the latest issue of his
Metals Market Report.
Fuljenz, founder and president of Universal Coin
and Bullion in Beaumont, Texas, notes that silver has averaged a
4.1 percent gain every September since 1975. Demand for silver has
increased especially for industrial applications, he says.
The Reverse Proof American Buffalo, a model of
Also in this week’s print issue, we explore a cluster of Lincoln
cents found while searching two rolls and ponder their origin.
September is also traditionally the leading month for gains in
gold, primarily because of the launch of the gold buying season for
jewelry purchases and holiday gift-giving in India and China,
according to Fuljenz.
2017 is the first year in a decade in which the 45 leading economies
that the Organization for Economic Cooperation and Development follows
are all rising “in tandem,” he said. Economic growth has pushed up
precious metals prices along with those for base metals, including
copper, zinc and aluminum.
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Demand for silver has increased because of industrial uses for the
metal in electronic and photovoltaic cell applications. Declining
supplies of metal from mining operations amid lower silver prices
should serve to push the price higher, according to Fuljenz.
“As a precious metal, silver attracts attention from investors who
cannot afford multiple ounces of gold bullion,” Fuljenz said. “Since
silver tends to follow gold up, but in greater percentage terms, if
gold makes a move this fall, silver will also rise.”