Continuing financial uncertainty is quickly boosting silver's appeal as a precious metal. And as a result, the white metal is rapidly the investment of choice for those who recognize its traditional role as a safe haven asset.
GFMS Ltd. – the world's leading authority on precious metal markets – reported that silver investment increased by a whopping 184% to 137 million ounces in 2009 compared to the previous year. This was the highest level in the past two decades.
Sales of silver bullion coins increased by an impressive 21% to post a new record of 78.7 million ounces last year, mainly driven by a pop in retail demand in the United States.
Of particular note, demand for the U.S. Silver Eagle bullion coin reached record highs in 2009, with 28.7 million Eagles sold. Take a look:
For the month of May 2010, the U.S. Mint sold 3.6 million Silver Eagles — the highest monthly sales since 1986, worth approximately $67 million. May marks the third month so far in 2010 that Silver Eagle sales have topped 3 million units.
Silver is quickly becoming the preferred investment to safeguard against a fragile global economy. And as investment demand continues to grow, silver prices will march higher. The time to invest in silver is now.
See Source By Luke Burgess
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