Silver Prices At 1 Year High Over $16.50 Per Ounce

July 24, 2019
  • Silver prices settles at their highest since June 2018; 7 days of gains in 8 trading sessions
  • Silver has surged over 9% so far in July; from $15.10/oz to $16.50/oz

Silver in USD -10 Years – GoldCore.com

Silver rose again yesterday, its 7th gain in 8 sessions, which saw the September contract gain another 6.5 cents, or 0.4%, to settle at $16.48 an ounce which is its highest settlement since mid-June, 2018.



There has been a huge increase in demand for silver which is seen in the growth in silver holdings globally – in Silver ETFs and particularly on the COMEX.



Silver remains undervalued relative to gold and most assets and the relative strength in silver will likely continue as silver buyers accumulate physical silver.



Silver ETF investors bought 26.3 million ounces of silver yesterday alone with them now holding a record 588.8 million ounces of silver as of July 23. Silver ETF buyers have bought 71 million ounces of silver so far in 2019 and their demand appears to be accelerating.



The gold to silver price ratio has fallen to 86 from its recent peak at 93.3 during the first week of July 2019. Silver remains very under-valued relative to gold given the historical gold to silver price ratio of around 50 to 1 and closer to 15 to 1 in the very long term.

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Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

The symbol for silver ‘AG’ comes from the Latin word ‘agentum’ meaning silver.