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Gold & Silver Prices Rise as ETF Holdings Fall

Recent reports indicate that not only are the massive gold and silver ETF sell-offs NOT hurting spot prices, but they could actually be one of the reasons why gold and silver prices have been on the rise in recent months. Investors have withdrawn over $562 million from U.S.-based precious metals ETFs since the beginning of the year, including $143 million in withdrawals which took place in June. Meanwhile, the gold spot price has risen from $1,250 per ounce to as high as $1,325 in less than a month.

Analysts believe investors are trending towards long-term profit, as well as safety. In recent years the ongoing problems within the U.S. economy have become more blatant, leading some investors to opt for physical gold and silver investments that could be useful in a national emergency. “No one is going to accept a piece of paper which says you own gold and silver when the going gets tough,” said GoldSilver.org spokesperson Maria Martin. “Grocery stores and gas stations are going to want something they can literally sink their teeth into.”

Some analysts have said that the health, or lack thereof, of the U.S. economy could decide the fate of gold and silver prices in the future. “Going ahead, economic data will guide gold prices,” said Sica Wealth Management analyst Jeff Sica. For a full report on gold and silver prices, as well as award-winning insights on how the gold and silver markets function, call GoldSilver.org at 800-394-3337 today or scroll down to request your four free gold and silver investing guides.

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