More than 6 million ounces of Silver Eagles sold by US Mint in January.
(1888PressRelease) February 03, 2012 - MMIAMI, FL - January not only saw the biggest rise in gold prices since 1980 but also the second highest number of silver coins ever sold by the US Mint, 6,107,000 ounces. Gold coin sales for January reached 127,000 ounces. Silver obviously offers investors a more attractive price point than gold and market analysts expect the high quantities of Silver Eagles sold to continue throughout the year. There was, in fact, a marked increase in demand for silver coins throughout 2011.
Silver, like gold, has benefited from a weaker US dollar and increased investment confidence. Investors are looking to gold and silver bullion for wealth protection and growth. Silver also benefits from industrial demand being used in a range of industries. Considering the record highs achieved by both silver and gold in 2011, there is still considerable room left for further gains in both metals. Silver was experiencing a surplus but increased demand from industry is serving to reduce that.
"Silver was one of few commodities to outperform gold during January," says Bill Hionas, CEO of Pan American Metals of Miami, a South Florida precious metals company. "Silver has been on a determined uptrend since December; like gold, silver could be due for a correction, such a rapid gain tends to provoke some profit taking, but this would not seriously alter silver's upward trajectory in the long term and would, in fact, present a buying opportunity."
Leading investment bank, Barclays Capital, suggests that silver could easily regain $40 an ounce, driven mainly by investment demand. Mining output has been high so that investment demand and continued industrial demand will both be necessary to push up the price even further.
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Pan American Metals of Miami, LLC is a group of account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
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Pan American Metals of Miami, LLC
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Website: http://www.panamericanmetalsofmiami.com
More than 6 million ounces of Silver Eagles sold by US Mint in January. 
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