Sunday, September 26, 2010

Silver Investing - Silver at 30 Year Highs

The price of silver is enjoying some nice gains and is very close to 30 year highs last seen in October of 1980. As I write this post, spot silver is at $21.44 per troy ounce. James Turk, an expert on precious metals and founder of GoldMoney, said in a recent interview that silver could reach $30 per ounce within the next few weeks. I would not be totally shocked if it did as silver prices can be very explosive - in either direction.

According to the latest U. S. Mint reports, the total Silver American Eagles produced in September (as the month winds down) stands at 1,220,000 with a year-to-date total at 24,820,500. I don't understand that low number so late in the month but maybe there will be an adjustment in early October as occurred with August's total in early September.

Happy investing.

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