There are signs that December was a strong month for global gold demand.
Lost in the shadow of gold and cryptocurrency, silver quietly gained over 6% in 2017. Even so, the white metal was considered an underperformer. Gold was up better than 12% on the year. But with silver languishing a bit behind gold, there are strong indications that 2018 could prove to be a big year for the white metal.
In fact, according to an article in the Business Standard, mainstream investors have started betting big on silver in anticipation of a big price upswing in 2018.
Gold imports into India surged in 2017 as demand rebounded.
According to GFMS, imports of the yellow metal into India increased 67% as jewelers replenished inventory and retail demand rebounded.
Earlier this month, World Gold Council chief market strategist John Reade said he expects gold to shine in 2018, and one of the primary reasons will be rising income growth in China and India.
A report recently published by the Centre for Economics and Business Research lends support to Reade’s prediction. According to the 2018 World Economic League Table, India will leapfrog France and England in 2018 to become the world’s fifth largest economy in dollar terms. The report also predicted that China will overtake the US as the world’s biggest economy in 2032.
If you saw the headlines last week, you know overall global gold demand fell steeply in the third quarter of this year. But as we reported, there was a lot of good news for gold buried beneath the gloomy headlines.
Slumping Q3 gold demand in India was a big driver in the overall global decline, but even there, we see some signs of optimism. Indian gold-buying dropped off primarily due to new taxes and regulations imposed by the Indian government over the summer. There are already signs the market is adjusting
Indians are buying silver and this could have a major impact on the world market for the white metal.
The Silver Institute covers this story, and highlights several other technological innovations involving silver, in its latest issue of Silver News. It also features an interview with ICE Benchmark Administration COO Matthew Glenville. His company recently began administering the silver benchmark and operating the auction underlying the London Bullion Market Association Silver Price.
The pawn shop is probably the last place you want to go if you find yourself strapped for cash. But an interesting article in a Filipino publication reveals a problem millennials face if they find themselves in a cash-crunch. They may have a harder time liquidating assets than their parents because they primarily spend their money on electronic gadgets and don’t tend to buy gold.
The head of one of the Philippines largest pawnshop operators told ANC’s The Boss that gold can be pawned at much higher prices than smartphones, laptops, and other electronics.
There’s nothing like buying gold and using it. It’s a great tool to use to save. Millennials today, they buy their gadgets, their Androids, their bags, but there’s still more value in buying gold jewelry than buying all those.”
The price of silver is at extremely low levels compared to gold. That makes this a perfect time to invest in the white metal.
Indians seem to recognize this buying opportunity. According to the Economic Times, silver demand was up 15% during this Dhanteras and Diwali festival season on increased purchases of coins, idols, and silverware. Analysts attributed the surge in silver buying to lack of consumer confidence in the economy and silver’s relatively low price.
SchiffGold has the perfect way for you to take advantage of this silver buying opportunity. We have obtained a limited supply of 2013 and 2014 1-ounce Silver Britannia bullion coins minted by the British Royal Mint. These beautiful coins are ready to ship right now for as little as $1.49 over spot per coin.
This is a bullion coin at better than bullion coin price but has the upside of potentially garnering collectible value in the future. Because they have a mint privy mark on edge of the coin the 2013 has a snake on the edge and the 2014 year has a horse on the edge.