Silver Enters Acceleration Phase | investing.com – Investing.com

  • Date: 23-Apr-2021
  • Source: Investing.com
  • Sector:Oil & Gas
  • Country:Middle East
  • Who else needs to know?

Silver Enters Acceleration Phase | investing.com – Investing.com

Spot is trading around $26 per ounce, but you can't buy any at that price.

Instead, you'll have to pay almost 50% more.

That's right. If you want silver right now, you'll need to pay at least $35 per ounce.

If you prefer government mint coins, and you're willing to wait a month to get them, you'll have to pay upwards of $37 per one-ounce coin.

In the past year premiums on physical silver have tripled from normal levels. Bullion dealers have been overwhelmed. Product shortages are now commonplace, with customers waiting three weeks or longer for shipping.

The silver market has rarely, if ever, experienced anything like this. Demand has not only soared; it has maintained these elevated levels.

So what's changed? A lot. From social media attention and falling mine supply, to safe haven and industrial demand, the silver market is on fire.  And most signs indicate this trend is only going to intensify.

Sustained Silver Tsunami

In late January, a Reddit WallStreetBets (WSB) subpost triggered a call to action to buy silver. Bullion dealers were immediately shocked by a tsunami of buying. To be fair, that's happened before. But this time has been different, as the buying wave has yet to let up.

At the