Silver Prices

Silver Prices

Silver and gold prices reached record-highs as investors continue to look for additional safe haven assets against inflation amid the weakening of the dollar. Gold prices for April delivery increased by $4.30 or 0.3 percent as it hit $1,503.20 at the COMEX following its highest level at $1,508.30 an ounce which was reached during the day. June gold prices settled at a higher level of $1,508.39 after increasing by $4.90 or 0.3 percent. Gold prices for June deliveries earlier reached $1,509.60 during the day.
Other UsesSilver’s use as jewelery, silverware, coins and investments makes up just 38 per cent of the metal’s usage while 44 per cent is accounted for by industrial use and another 18 per cent for photography. If the recent trend of photography going digital has had any effect on its usage, it has obviously been more than compensated for by an increase elsewhere as demand for silver remains robust, as upheld by its rising prices.
Record Setting FiguresRecord-setting gold and silver figures have made this the perfect opportunity to unload what you don’t use for instant ready cash that you can spend on bills or other important purchases. Closing above the $1500.00 per ounce mark for the first time ever, gold has become an extremely hot commodity. Silver, at $46.00 per ounce is the highest it has been in 31 years. As gold has risen 6% this year already and silver has grown in value by 51%, there is no sign of the end in sight.
Gains“Given the gains in recent sessions, particularly in gold and silver … there is the risk of deeper corrections across the metals as long liquidation is seen due to the long Easter weekend,” predicts James Moore, research analyst at FastMarkets. “We still expect dips to be viewed as buying opportunities, with gold and silver viewed favorably by investors seeking to hedge against inflation and debt jitters.”

Silver Prices