Silver rallies on as its status as a haven asset continues.
Its 2014 rebound continues, with prices gaining as much as 2.9% this year as emerging markets turn turbulent, weaker than expected US payroll reports emerge amid concerns that Janet Yellen the new FED chairman will announce a pause in the tapering of the US bond buying scheme.
Interestingly, Mario Draghi the European Central Bank President has stated today that a more accommodating monetary policy may be on the cards if the current “market turbulence” continues”.
Meanwhile across the Atlantic demand for Silver Bullion Coins (American Eagle) has quadrupled since 2007, with coin sales for 2013 reaching a record breaking 42,675,000.
This is all positive news for gold’s cousin and shows an ideal time to consider investing in this metal, with the price rising 0.8% today – $20.1783 an ounce, reaching a week of daily price gains, its best to strike now to make optimum gain.
Silver for immediate delivery gained 0.8 percent to $20.1783 an ounce, and a seventh successive daily advance would be the longest since Aug.