Silver investor and industrial consumption rose in the first half of 2014, according to the Silver Institute, an industry group.
Exchanged-traded fund holdings of physical silver rose by 7 million ounces through June, the Silver Institute said Thursday.
Citing data from precious metals consultancy Thomson Reuters GFMS, global silver bullion coin sales are up 4.5% through the first quarter of 2014. U.S. Mint sales of American Eagle Silver Bullion coins held near-record sales levels of 24.1 million ounces for the first six months of 2014, just shy of the 25 million sold in the first half of 2013. In 2013, full-year American Eagle silver coin sales were a record 42.7 million coins. While ETF and coin sales are strong, the Silver Institute said other silver investment products, such as silver bar consumption, “appear to be easing so far this year after a strong showing in 2013.”
Industrial demand for silver in such sectors as ethylene oxide production rose significantly in the first half 2014 and is expected to increase 23% this year to 8.0 million ounces, the group said, citing Thomson Reuters GFMS.
Ethylene oxide is a building block chemical, used in production of detergents, solvents, plastics and a broad range of organic chemicals.
A global increase in renewable energy has lifted silver demand in the photovoltaic industry and Metals Focus, the precious metals consultancy, forecasts silver demand in photovoltaics will rise by close to 10% in 2014, the Silver Institute said.
Citing data from the Semiconductor Industry Association, semiconductor sales rose 8.8% in May from a year ago, the Silver Institute said. “This increase is encouraging for silver demand because silver is used extensively in electronic products that contain semiconductors. Semiconductor sales in the first quarter of the year totaled $78.5 million globally, the highest first-quarter total on record,” the Silver Institute said.
“These two categories, investment and industrial demand, are impo
and I got some at 2.87. I think this is so cheap at this price for what they have in gold and silver reserves no matter how you look at it. Risk of buying at this level if you don't use margin is very low IMO.
I am thinking in 1 year it will easily be over 6 maybe even 8 or 10.
3.45 on July 12 2014. I will reference this post in 1 year to see if I am right or wrong but I think I will be right...
First I want to tell you that Janet Yellen at the helm of the FED is the Best thing that could have happened for Gold Silver and Mining stocks.
This is why smart money is piling into them at this time especially since they are so beaten down.
Hecla (which I own) was 11 when gold was 1800 and silver was 40 now it's 3.16 and get this:
Hecla is the largest silver producer in the US with 26% of US output in 2013 and massive reserves Hecla has doubled it's reserves since it was priced at 11 per share and added significant gold
Hecla has it's main mines ONLY in US and Canada so can't get them taxed or nationalized (at least today..)
Hecla has a large number of short shares so could have a short squeeze easily
Hecla just bought a large GOLD mine in Canada from Aurizon making it a gold and silver miner Hecla pays a dividend linked to the price of silver Hecla insiders are buying it's shares on the open market see Yahoo insider transactions link Hecla (all shares) could be bought for only 1.25 billion the amount the fed prints every 1.1 Days !
Fed never going to stop printing; while physical is best HL one of the best leveraged plays to gold and silver imo. Go to their web site and on the right click and see their impressive presentation showing mines and reserves ! I firmly believe that Hecla is going to have a much higher return this year than the overpriced dow and S&P There is a tremendous amount of money being created and when even a tiny percentage realizes whats going on with the debasing of the dollar and buys these stocks they will be be up 5 to 10 times or more their current price. You see social media stock like trip yelp etc go up 4 or 5 times think it won't happen to this one and this one has all of the best properties of a miner as shown above. Candy Crush has 5 bill market cap vs HL 1.1 this will reverse when people realize the value of gold and silver over paper when people realize the value of gold and silver over paper that can be created out of thin air in infinite quantities ! HL will soon be 15 /share Less
gold and silver physical and miners in increasing amounts...
My PSLV has been soaring for the past few weeks along with Hecla..
When the fed backs down on the taper which is coming I believe then these stocks will explode..
do you disagree ?
At 10 hecla market cap would be about 5 billion or what the fed prints every 5 days even today..
Home depot is on deck......
Yet I remember Goldman telling me gold was going to 1000 and they called me a MUPPET !
Of Course Hecla leveraged to Silver and Gold is even better if what I say is correct...
1. It's 50% less than it was in 2011
2. It is produced in finite supply unlike fed printing of paper
3. There is only about 28 billion dollars of it TOTAL worldwide if only 10 billion were purchased it would cause prices to spike to eat 50 per oz. if you look at market caps of dow stocks such as Microsoft GE etc you can easily see how even 1% of that money buys silver it would not be available at any price.
4. Silver is the poor mans gold very cheap at 21 dollars per oz think about it 10 lbs of apples or 3 pounds of steak can buy 1 troy oz at this price level how long can that last when trillions of dollars in paper are being printed each year ?
5. It and gold are your best defense against fed money creation that only benefits the 1% and wall st banks
6. You will get far better returns with Silver this year than the S&P or banks will give you IMO !
"It is estimated that more than 95% of all the silver ever mined throughout history has already been consumed by industrial use. That silver is gone forever, unrecoverable at any price. In 1900, there were approximately 12 billion ounces of silver in the world. Today, according to The Silver Institute's ''World Silver Survey 2013,'' identifiable silver bullion stocks worldwide (not including bullion held in depositories on which information is not or in private investor vaults) totaled just 1.366 billion ounces at the end of 2012."
The fed will never raise interest rates. As soon as the market falls 10 points they blast out that fact as they did
Today. Gold and especially Silver are going to do great in this kind of environment do you disagree ?
I am basing my 15.00 price on the silver and gold reserves that hecla has not the current price of silver and gold. I think soon we will see much higher prices for silver and gold of course many do not..
and why not HL fair market price is north of 15 per share imo at this time....
Bull pe nnants are contin uation patterns, which im plies that an upside brea kout would confirm a resum ption of the recent uptrend move. Let's look at how this could work. The large up thrust day on June 19 formed the so-called "flag-pole" of this developing pe nnant pattern. The actio n on June 20 and on Monday is starting to build the pe nnant portion. Gene rally, the pe nnant por tion has a time limit on it —usually under a week.
W atch supp ort at the June 20 daily low at $1,307.10 and resistance at the June 20 daily high at $1,322.50. For now, those are short-term toggle points for traders. A move above the high is bulli sh, while a move under the low wou ld be bearish and wo uld suggest the pen nant form ation is failing.
In or der to "confi rm" an upsid e breako ut from this p otential bull pennant, a str ong and sust ained upside breakout w ould be needed through the top of the pattern, w hich at thi s point is the $1,322.50 level. Two consec utive settlements above the bre akout point are util ized by more cons ervative traders for co nfirmation. A "meas ured move" ob jective can be seen from the length of the flagpole to the top of the pattern. A str ong up side breakout above $1,322.50 wo uld project gai ns to the $1,368 area once confir mation of the bull pe nnant is seen.
This opens the door to massive upside for gold and silver...
There is only about 1.3 billion oz in physical silver worldwide or about 26 billion at todays prices..
That is why the hunt bros were able to drive silver up to 50 in the 80's so easily
It will happen again and those who have it will make out those who don't will cry foul...