Monday, January 28, 2013
HSBC Purchases $876 Million Worth of Silver
HSBC Purchases $876 Million Worth of Silver Capital Gold Group is a BBB Accredited Business. Listeners are welcome to receive a free precious metals guide by going tohttp://www.startwithgold.com/gold-guide/ or call 1(800)510-9594. If you'd like to listen to the rest of the show, visit StartWithGold.com to subscribe to the podcast. Silver has now rallied for 7 days due to the flood of inflows into silver backed ETF's and investment demand for coins and bars internationally. Analysts polled by Reuters expect silver to rise in 2013. This has helped silver prices rally over 6% so far this year and 4.5% last week alone. The close above $32/oz yesterday was bullish technically and could lead to silver testing the next level of resistance which is at $34/oz. The U.S. Mint has sold out of 2013 American Eagle silver coins and will resume sales the week of January 28 when the US Mint said inventory would be replenished.