The price of silver has maintained its steep ascent with a rise of over 20% in just 7 days from a midday fix of £15.
The all time record price stands at $1896. 50/oz set on the morning fix of September 5th 2011, briefly yesterday the spot price nudged past the $1900/oz mark.
With the midday silver fix today of over £16/oz, we are now in territory not seen for the metal since the heady days of 2011-13 and as this blog is...
All metal prices rose sharply yesterday on the back of continuing concerns about the ongoing effect of the Coronavirus on the World economy.
The price of gold in the UK topped £1400/oz and £45/gram for the first time ever, when fixed this afternoon.
The global economic shutdown as a result of the Coronavirus has lead to very strong gold demand as a safe haven depository and a subsequent steep rise in the price.
In unprecedented market conditions related to the Coronavirus pandemic, all precious metals fell sharply again today with silver at one point trading below £10/oz.
Gold down 4% Silver down 6% Platinum down 10% Palladium down 19% It makes stark reading as all markets tumble in the wake of the coronavirus pandemic.
The rising price of gold could not be sustained over the past week and so volatile prices including dramatic falls have taken place.
On the back of economic fears surrounding the outbreak of the coronavirus, gold and silver have seen safe haven investment and subsequent increases in price.