Silver prices settled today at $31.12 per ounce, rising by 1.4% during the week.
Gold prices continued to decline, although they settled in London at $20 above the lowest level in a week recorded last night in the spot market at $2,614 per ounce, down 0.7% from last Friday.
After ignoring the sudden imposition of martial law (which was quickly rescinded) in South Korea on Tuesday night, gold prices failed to move after the coalition government in France collapsed on Thursday morning after the Prime Minister suffered a vote of “no confidence” on his budget plans.
The rise in bullion imports into the United States ahead of Trump taking office is driven by suppliers, especially industrial users of silver – vital for technologies including photovoltaics – who want
US gold-backed giant GLD shrank again yesterday, another 0.7% in volume to the smallest level in about four weeks.
In contrast, iShares SLV, the premier silver ETF – which holds about 4/5 of the bullion backing in London but not New York – posted 0.9% growth to its highest level in two weeks.
