After taking a cue from gold, silver is too glittering never before. On Tuesday,
the price of spot silver (.999) breached the
psychological mark of Rs 23,000 per kg to
touch Rs 23,700 in Chennai. While in Mumbai the metal surged by Rs 705 to Rs 22,315 per kg in Mumbai, it jumped by Rs 500 to Rs 22,000 per kg in Kolkata.
Thus the metal had gained more than Rs 4,000 per kg from January 16, when it settled at Rs 18,170 per kg in Mumbai market. A plunge in equity markets and firm global trend also boosted buying sentiment to some extent in domestic markets, dealers said.
Further, the steep rise in yellow metal has become unaffordable to retail buyers particularly in the midst of marriage season. And hence they opt for silver which is comparatively cheaper, a bullion merchant said in Mumbai. A retail jeweller in Vashi said many prospective gold buyers were postponing their buying decision as they are unable to grapple with never-before like prices.
In international markets, silver hit a six-month high of $14.09 an ounce. In London, spot silver was last seen at $13.97/14.05 an ounce from Monday’s New York close of $13.57
Source: Economictimes
Showing posts with label Silver. Show all posts
Showing posts with label Silver. Show all posts
Hindustan Zinc: Asia's 'silver king' by 2013?
Vedanta Resources group firm Hindustan Zinc is poised to become
Asia's largest and world's sixth biggest silver-producing company
by 2013 with a total
production of 500,000 kg per annum, sources said.
The company, which at present claims to produce 100,000 kg of the precious metal, has undertaken expansion of its Sindesar Khurd mines in Rajasthan to augment its capacity and join the league of leading silver-producing nations like Peru, Mexico, Chile and Australia.
"Hindustan Zinc has been consistently increasing its silver production in the past. By 2013, we would be producing 500,000 kg of silver. This is going to give a boost to the domestic ancillary industry," the company's Chief Operating Officer Akhilesh Joshi said.
At present, Hindustan Zinc's market share in the domestic market is 2.5 per cent. Post-augmentation of the capacity, it is likely to supersede Kazakhmys as Asia's largest primary silver producer. The Kazakhstan firm's annual production is close to 500,000 kg.
As per the World Silver Survey 2008, India's annual demand of silver is pegged at around 3,200,000 kg, 77.1 per cent of which is met through imports while 18.8 per cent is procured from the secondary market.
Source: Economictimes
Asia's largest and world's sixth biggest silver-producing company
by 2013 with a total
production of 500,000 kg per annum, sources said.
The company, which at present claims to produce 100,000 kg of the precious metal, has undertaken expansion of its Sindesar Khurd mines in Rajasthan to augment its capacity and join the league of leading silver-producing nations like Peru, Mexico, Chile and Australia.
"Hindustan Zinc has been consistently increasing its silver production in the past. By 2013, we would be producing 500,000 kg of silver. This is going to give a boost to the domestic ancillary industry," the company's Chief Operating Officer Akhilesh Joshi said.
At present, Hindustan Zinc's market share in the domestic market is 2.5 per cent. Post-augmentation of the capacity, it is likely to supersede Kazakhmys as Asia's largest primary silver producer. The Kazakhstan firm's annual production is close to 500,000 kg.
As per the World Silver Survey 2008, India's annual demand of silver is pegged at around 3,200,000 kg, 77.1 per cent of which is met through imports while 18.8 per cent is procured from the secondary market.
Source: Economictimes
Silver futures surges 2.45 pc on firm global cues
Silver prices shot up by 2.45 per cent in futures trading on Tuesday on
increased buying by traders in line with a firming trend
in overseas bullion markets.
Silver for the March-month contract spurted 2.45 per cent to Rs 21,954 per kg on the Multi Commodity Exchange in a trading volume of 5,195 lots.
The metal for May contract jumped 2.24 per cent to Rs 22,188 per kg in a trading of 359 lots and July contract by 2.22 per cent to Rs 22,402 per kg in trading of seven lots.
Buying activity picked up as the precious metals, gold and silver, rallied in overseas markets. Silver gained 0.21 cent to 13.94 dollar an ounce abroad.
Meanwhile, in Singapore, gold rallied over 960 dollar an ounce, the highest in seven months, as investors bought the metal as an alternative to slumping equities and to preserve their wealth as the global economy sags.
Source: Economictimes
increased buying by traders in line with a firming trend
in overseas bullion markets.
Silver for the March-month contract spurted 2.45 per cent to Rs 21,954 per kg on the Multi Commodity Exchange in a trading volume of 5,195 lots.
The metal for May contract jumped 2.24 per cent to Rs 22,188 per kg in a trading of 359 lots and July contract by 2.22 per cent to Rs 22,402 per kg in trading of seven lots.
Buying activity picked up as the precious metals, gold and silver, rallied in overseas markets. Silver gained 0.21 cent to 13.94 dollar an ounce abroad.
Meanwhile, in Singapore, gold rallied over 960 dollar an ounce, the highest in seven months, as investors bought the metal as an alternative to slumping equities and to preserve their wealth as the global economy sags.
Source: Economictimes
Silver outshines gold in returns
Everyone’s talking about gold and its glitter but check the returns silver has Why invest in Gold now?
. Based on Saturday’s closing in the Mumbai bullion market, ready silver (.999) at Rs 23,230 per kg has given returns of 28% this year. In comparison, gold (99.5 purity) has returned 17%. Analysts say silver has the potential to outperform gold and investors should keep their eyes open while parking their money in the precious metals space.
While silver fluctuated in the wide range of Rs 16,400 to Rs 27,000 in 2008, and finally ended the year at levels which were around 10% lower than in 2007, gold has had an unprecedented bull run and finished 2008 with over 20% returns. This at a time when stock markets were down, enhanced the proposition of gold for investors , say market experts.
But commodity gurus like Jim Rogers have been betting on silver for sometime. He recently said if given a choice between the two precious metals, the Singapore-based investor would go for silver. When TOI contacted him on silver’s fortunes , he said, “I own it’’.
People like him, who own silver in India, have seen the metal rise from Rs 18,100 per kg (on December 31, 2008) to Rs 23,320 in close to 50 days in Mumbai bullion market. This is no different from what has happened in other bullion markets like those at Delhi, Chennai , Hyderabad, Indore and Kolkata. Gold, which started the year at which Rs 13,435/gm, closed at Rs 15,745/gm on Saturday , giving close to 17% returns in the same period.
Like gold made all-time high the past week, silver, too, climbed to a five-month high. “If one has Rs 100 to invest in precious metals, he/she could invest Rs 60 in silver and the rest (Rs 40) in gold. It’s a good investment option,’’ Mandar Pote, who tracks bullion at Angel Commodities, said.
At commodity exchanges such as NCDEX and MCX, silver has been the top gainer among commodities with 9-10 % gain this week while gold was the second best giving returns of 7-8 %, data shows. According to investment advisory firm SMC Global, silver contracts for March delivery at MCX are showing an uptrend while the weekly stock position shows rise of 3,649 kg for the week ended February 19.
Source : Economictimes
. Based on Saturday’s closing in the Mumbai bullion market, ready silver (.999) at Rs 23,230 per kg has given returns of 28% this year. In comparison, gold (99.5 purity) has returned 17%. Analysts say silver has the potential to outperform gold and investors should keep their eyes open while parking their money in the precious metals space.
While silver fluctuated in the wide range of Rs 16,400 to Rs 27,000 in 2008, and finally ended the year at levels which were around 10% lower than in 2007, gold has had an unprecedented bull run and finished 2008 with over 20% returns. This at a time when stock markets were down, enhanced the proposition of gold for investors , say market experts.
But commodity gurus like Jim Rogers have been betting on silver for sometime. He recently said if given a choice between the two precious metals, the Singapore-based investor would go for silver. When TOI contacted him on silver’s fortunes , he said, “I own it’’.
People like him, who own silver in India, have seen the metal rise from Rs 18,100 per kg (on December 31, 2008) to Rs 23,320 in close to 50 days in Mumbai bullion market. This is no different from what has happened in other bullion markets like those at Delhi, Chennai , Hyderabad, Indore and Kolkata. Gold, which started the year at which Rs 13,435/gm, closed at Rs 15,745/gm on Saturday , giving close to 17% returns in the same period.
Like gold made all-time high the past week, silver, too, climbed to a five-month high. “If one has Rs 100 to invest in precious metals, he/she could invest Rs 60 in silver and the rest (Rs 40) in gold. It’s a good investment option,’’ Mandar Pote, who tracks bullion at Angel Commodities, said.
At commodity exchanges such as NCDEX and MCX, silver has been the top gainer among commodities with 9-10 % gain this week while gold was the second best giving returns of 7-8 %, data shows. According to investment advisory firm SMC Global, silver contracts for March delivery at MCX are showing an uptrend while the weekly stock position shows rise of 3,649 kg for the week ended February 19.
Source : Economictimes
Buying Silver Coins For Investment!
Silver has for more than 4,000 years been regarded as a form of money .The oldest mass form of coinage was the silver coin. The Greeks were one of the first amongst the first people to use silver coins. Today silver coins have an international appeal and can be traded anywhere in the world. Apart from the collector's of silver coins, silver bullion coins are being collected by investors to hedge against inflation or to store value.
Silver is minted in coins and bars they usually have a set weight of 1 troy ounce of silver (31.103 grams of 99.9% silver) In the United States Silver lost its role as legal tender when they introduced the silver standard and they continued to use it as a coin until in 1964 the intrinsic value of silver overtook the coins' face value.
The main silver One Ounce coins in circulation today are Canadian Silver Maple Leaf, American Silver Eagle, UK Silver Britannia, Somalian, Chinese Silver Panda, Mexican Silver Libertad, Australian Silver Kangaroo and the Kookaburra, Silver Monkey, Zambian Silver Elephant
Silver is minted in coins and bars they usually have a set weight of 1 troy ounce of silver (31.103 grams of 99.9% silver) In the United States Silver lost its role as legal tender when they introduced the silver standard and they continued to use it as a coin until in 1964 the intrinsic value of silver overtook the coins' face value.
The main silver One Ounce coins in circulation today are Canadian Silver Maple Leaf, American Silver Eagle, UK Silver Britannia, Somalian, Chinese Silver Panda, Mexican Silver Libertad, Australian Silver Kangaroo and the Kookaburra, Silver Monkey, Zambian Silver Elephant
Silver Coins have been around for 4,000 years
Silver coins are possibly the oldest mass form of coinage. Silver has been used as a coinage metal since the times of the Greeks. Their silver drachmas were popular trade coins.
Many factors determine the value of a silver coin, such as its rarity, demand, condition and the number originally minted. Silver coins coveted by collectors include the Denarius and Miliarense.
Other than collector's silver coins, silver bullion coins are popular among people who desire a "hedge" against currency inflation or store of value. Silver has an international currency symbol of XAG under ISO 4217.
Before 1797, British pennies used to be made out of silver while the ancient Persians used silver coins between 612-33...
Read More
Many factors determine the value of a silver coin, such as its rarity, demand, condition and the number originally minted. Silver coins coveted by collectors include the Denarius and Miliarense.
Other than collector's silver coins, silver bullion coins are popular among people who desire a "hedge" against currency inflation or store of value. Silver has an international currency symbol of XAG under ISO 4217.
Before 1797, British pennies used to be made out of silver while the ancient Persians used silver coins between 612-33...
Read More
The Morgan Silver Dollar
A Collectors Coins
The Morgan Silver Dollars are collected for fun and for investment, they have a monetarily valuable and are steeped in history
The Morgan Dollar is a silver United States dollar coin. The dollars were minted from 1878 to 1904 and again for one more year in 1921. The Morgan Dollar is named after its designer, George T. Morgan, who designed the obverse and reverse of the coin. Morgan's monogram appears near Lady Liberty's neck on the obverse. The dollar was authorized by the Bland-Allison Act of 1878. It has a fineness of .900, giving a total silver content of 0.77344 troy ounces (24.057 grams) per coin.
The Morgan Silver Dollars are collected for fun and for investment, they have a monetarily valuable and are steeped in history
The Morgan Dollar is a silver United States dollar coin. The dollars were minted from 1878 to 1904 and again for one more year in 1921. The Morgan Dollar is named after its designer, George T. Morgan, who designed the obverse and reverse of the coin. Morgan's monogram appears near Lady Liberty's neck on the obverse. The dollar was authorized by the Bland-Allison Act of 1878. It has a fineness of .900, giving a total silver content of 0.77344 troy ounces (24.057 grams) per coin.
What is Junk Silver
Junk silver is an informal term used in the United States and Canada for any silver coin which is in only fair condition and has no collectible value above the bullion value of the silver it contains. Such coins are popular amongst those seeking to invest in silver, particularly in small amounts. The word "junk" refers only to the value of the coins as a numismatic collectible and not to the actual condition of the coins; junk silver is not necessarily scrap silver.
The most commonly collected U.S. junk silver pieces are Mercury and Roosevelt dimes, Washington quarters, and Franklin and Kennedy half dollars, minted in or before 1964. These coins have a 90% silver composition ("coin silver"), and when minted contained 0.7234 troy ounces of silver per dollar of face value. In practice, the content is usually assumed to be 0.715 ounces because of wear. Less common as junk silver are Kennedy half dollars from 1965 to 1970, which contained 40% silver. Peace Dollars may also be collected for their silver value, but are also less common.
Canadian dimes and quarters contained 80% silver (0.600 troy ounces per dollar of face value) until 1966. In 1967, they were minted in both 80% and 50% varieties. In 1968 they either contained 50% silver, or none at all (Cupro-Nickel). Dollars and half dollars were minted in 80% silver until 1967.
Junk silver coins may be a desirable method of investing in silver for several reasons:
;Low premiums: Junk silver can often be purchased for little or no premium over the spot price of silver, particularly during periods of economic stability.
;Legal tender: Junk U.S. and Canadian coins remain legal tender, and maintain their face value regardless of the price of silver.
;Recognition: Though not as common as they once were, junk silver coins are still somewhat well-known, and may be less likely to have their value disputed than silver bars or rounds.
;Divisibility: Junk silver coins can be easily spent or traded in small amounts; as of March 2008, the silver in a U.S. silver dime was worth less than US$1.50. In contrast, silver bullion coins and bars are rarely smaller than one ounce, while gold and other precious metals are highly valued in even minuscule amounts.
For some of these reasons, junk silver is popular among survivalists. In the event of a crisis or catastrophe during which traditional currency collapses, it is speculated that silver coins could provide a viable alternative, temporarily or indefinitely, while fiat currency, which is not backed by precious metals or other commodities, has no inherent value and can be subject to extreme inflation, even hyperinflation, similar to Weimar Germany and, more recently, Zimbabwe. Proponents of junk silver and other precious metals adhere to the principle that while fiat currencies have historically always been subject to hyperinflation, precious metals will always have inherent value and can act as a medium of financial exchange when fiat instruments of payment are obsolete.
The most commonly collected U.S. junk silver pieces are Mercury and Roosevelt dimes, Washington quarters, and Franklin and Kennedy half dollars, minted in or before 1964. These coins have a 90% silver composition ("coin silver"), and when minted contained 0.7234 troy ounces of silver per dollar of face value. In practice, the content is usually assumed to be 0.715 ounces because of wear. Less common as junk silver are Kennedy half dollars from 1965 to 1970, which contained 40% silver. Peace Dollars may also be collected for their silver value, but are also less common.
Canadian dimes and quarters contained 80% silver (0.600 troy ounces per dollar of face value) until 1966. In 1967, they were minted in both 80% and 50% varieties. In 1968 they either contained 50% silver, or none at all (Cupro-Nickel). Dollars and half dollars were minted in 80% silver until 1967.
Junk silver coins may be a desirable method of investing in silver for several reasons:
;Low premiums: Junk silver can often be purchased for little or no premium over the spot price of silver, particularly during periods of economic stability.
;Legal tender: Junk U.S. and Canadian coins remain legal tender, and maintain their face value regardless of the price of silver.
;Recognition: Though not as common as they once were, junk silver coins are still somewhat well-known, and may be less likely to have their value disputed than silver bars or rounds.
;Divisibility: Junk silver coins can be easily spent or traded in small amounts; as of March 2008, the silver in a U.S. silver dime was worth less than US$1.50. In contrast, silver bullion coins and bars are rarely smaller than one ounce, while gold and other precious metals are highly valued in even minuscule amounts.
For some of these reasons, junk silver is popular among survivalists. In the event of a crisis or catastrophe during which traditional currency collapses, it is speculated that silver coins could provide a viable alternative, temporarily or indefinitely, while fiat currency, which is not backed by precious metals or other commodities, has no inherent value and can be subject to extreme inflation, even hyperinflation, similar to Weimar Germany and, more recently, Zimbabwe. Proponents of junk silver and other precious metals adhere to the principle that while fiat currencies have historically always been subject to hyperinflation, precious metals will always have inherent value and can act as a medium of financial exchange when fiat instruments of payment are obsolete.
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