$GLD and $SLV Prices as of May 15 2017 from @moneymetals
8:16 AM
May 15, 2017 -- Gold and silver got a reprieve following three weeks of heavy selling. Both metals ended last week nearly flat.
Prior to stabilizing, silver closed lower for 16 straight days. That pummeling, one of the metal's worst ever, was way overdone based on any sort of fundamental analysis. Of course, as often discussed, fundamentals have very little to do with the price these days.
The lower prices are having an impact in the bullion markets. Retail investors sold significantly fewer coins and bars, and buying interest ticked up.
Inventory of secondary market products – items being sold back into dealer inventories – such as silver American Eagles quickly evaporated, though supplies of newly minted coins remain plentiful. Premiums on 90% silver U.S. coins (aka "junk silver") as rose late in the week after several weeks of selling in the paper derivatives market cleaned out any excess inventory of this popular but no longer minted product.
Check out the live price charts here:
https://goo.gl/zQPJtG
Prior to stabilizing, silver closed lower for 16 straight days. That pummeling, one of the metal's worst ever, was way overdone based on any sort of fundamental analysis. Of course, as often discussed, fundamentals have very little to do with the price these days.
The lower prices are having an impact in the bullion markets. Retail investors sold significantly fewer coins and bars, and buying interest ticked up.
Inventory of secondary market products – items being sold back into dealer inventories – such as silver American Eagles quickly evaporated, though supplies of newly minted coins remain plentiful. Premiums on 90% silver U.S. coins (aka "junk silver") as rose late in the week after several weeks of selling in the paper derivatives market cleaned out any excess inventory of this popular but no longer minted product.
Check out the live price charts here:
https://goo.gl/zQPJtG
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