We knew it would be a record… But the question remained: by how much? The US Mint sold 6,422,000 Silver Eagles in January 2011 – half as many as were sold in the previous record-setting month of November 2010.
There are a few nattering nabobs who say the figures are skewed because the Mint credited some December sales to January. So what? If you add up December and January sales and average them, you still get the second-highest monthly total ever…right behind November 2010.
Fact is demand is intense.
After just one week, Canada’s biggest bullion bank sold out its limited stock of 100-ounce silver bars. Now ScotiaMocatta has no silver bars to sell in any size. One ounce, 5 ounces, 100 ounces and the kilobars – all gone.
For its part, the spot price of silver remains in “consolidation mode” – down this morning to $28.35. Gold is fetching $1,337 this morning. (more)
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