Improving investor sentiment will drive silver prices higher.
This was the conclusion drawn from the Metals Focus/Silver Institute Interim Silver Market Review. Metals Focus director Philip Newman presented the data during the Annual Silver Industry Dinner hosted by the Silver Institute. His presentation featured historical supply and demand statistics and provisional estimates for 2019.
Gold sales at Australia’s Perth Mint rose to their highest level in nearly a year in August as investors took advantage of gold on sale.
According to the mint, sales of gold coins and minted bars surged 30% to 38,904 ounces last month. It was the strongest month of gold sales since November 2017. Sales were nearly doubled from a year ago, according to the mint.
“Lower bullion prices continued to support interest in our minted products among investors,” a company spokesman said.