Share!Gold needs to clear 1082 today to break the downtrend from the October high, but it would still have work to do to clear a path to move higher. The silver price today moved solidly higher in morning trading following some positive economic data out of China. Demand for safe-haven silver has shown signs of life during the last several Friday sessions amid simmering conflicts overseas. In fact, worldwide demand for silver continues to remain robust after hitting an all-time high last year.
A slump in silver prices in 2013 left the white metal much more affordable and buoyed a wave of buying among opportunistic investors. As silver prices plunged a painful 36% last year, global sales of silver coins and bars surged some 76%, data from last week’s World Silver Survey 2014 showed.


And, with silver prices nearly flat year to date, early signs suggest another solid year for silver demand. Sales of the popular American Silver Eagle coins hit 4,590,500 in April, up 12.3% from the 4,087,000 sold in the same month a year earlier.
Plus, the Mint sold 5,354,000 American Silver Eagles in March, marking its fourth-biggest sales month ever. As global demand for silver has become so frenzied, a Singapore retail supplier of coins and bars recently opened a new 600-metric-ton vault.
Silver will continue to be a popular investment for the same reasons it has always been a favored alternative asset: irresponsible government spending, over-accommodating global central banks, inflation jitters, and always simmering (somewhere) geopolitical tensions. These breaks often result in short, explosive moves, but there’s more support indicated just below where the market closed today.


It was the second sizable silver storage facility to be built in the Asian region in less than six months, and more are expected. That was the white metal's highest settlement since March 19, when the price of silver closed at $20.93 an ounce.



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