18, Jan, 2011
With the American Silver Eagle (SAE) coin sales totalling a 4,558,000 in January this year, it is more than evident that the demand for this base metal has been growing substantially. The rise in the price has been present for a while that has led Silver to reach up to its 30 year high of $31.275 that it touched on Jan 3rd this year.
The rise in the demand and the higher prices of Silver, as well as the other precious metals was a result of the investor finding the precious metals a safe heaven against the turmoil in other financial markets. The Silver futures in the New York Stock exchange rallied a total of 84% last year before touching its 30-year high in early 2011 as mentioned previously. According to researchers, the rise in the demand of SAE coins is an indication of the crowds being attracted towards investing in Silver and this usually happens at the end of a Boom Cycle.
Thus, Silver could soon see a fall in prices!