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Saturday, August 17, 2013

Silver slowly rising in value again

After weeks of languishing around the $20.00 an ounce mark silver has begun a recovery of sorts. From June 19th of this year (when the metal dropped nearly a dollar and half in one day) through August 8th, the 'poor man's gold' seldom broke the aforementioned threshold, at one point dipping dangerously close the $18 point.

Since the 8th, however, silver has been on a steady rise, ending this week at $23.26 an ounce. While nowhere near the $45.00 prices being quoted in September of 2011, the recent gains have enthusiasts of precious metals optimistic. Gold has been rising as well, threatening to break the $1,400 per ounce ceiling for the first time in 9 weeks.

Silver remains one the most under-appreciated, over-performing commodities / barter items available. The white metal hit its low point on November 5, 2001 at an anemic $4.13 oz., meaning that it has jumped in value over 500% in less than 12 years.

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