What does HSBC know about silver?

Today’s AM fix was USD 1,692.25, EUR 1,268.84, and GBP 1,066.19 per ounce. Yesterday’s AM fix was USD 1,692.50, EUR 1,268.17, and GBP 1,068.36 per ounce.

Silver is trading at $32.33/oz, €24.32/oz and £20.46/oz. Platinum is trading at $1,700.50/oz, palladium at $725.00/oz and rhodium at $1,200/oz.


Cross Currency Table – (Bloomberg)

Gold climbed $6.40 or 0.4% in New York yesterday and closed at $1,690.50/oz. Silver slipped to $31.79 in London, but it then climbed to a high of $32.34 in New York and finished with a gain of 1%.

Gold hovered near a one-month high on Wednesday supported by loose monetary policies of central banks. There are renewed hopes regarding U.S. debt ceiling talks and the U.S. House of Representatives plans to pass a bill on the almost four month extension of the borrowing limit.


Total Known ETF in Silver, Jan 2008-2013 – (Bloomberg)

Silver has now rallied for seven days because of the flood of inflows into silver backed ETFs and investment demand for coins and bars internationally. Analysts polled by Reuters expect silver to rise in 2013.

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