Traditional time of year for precious metals movement
- Published: Aug 29, 2017, 9 AM
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 marketing: 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.
Connect with Coin World:
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.”
MORE RELATED ARTICLES
Paper Money May 22, 2022, 12 PM
US Coins May 21, 2022, 4 PM
World Coins May 21, 2022, 2 PM
Paper Money May 21, 2022, 12 PM