Silver Price Rises Above US$28.00 Per Ounce, Up 140 Percent From 2020 Low (Silver Institute)
August 06, 2020
- The silver price rallied 34 percent in July alone, outpacing every major global financial asset. July represented one of the best months for silver on record, and its highest monthly gain since 1979;
- Global silver-backed exchange-traded products have posted all-time highs in 2020, currently standing at 1.25 billion ounces, having increased by 296 million ounces since January 1 as of today;
- Silver bullion coin demand is robust, up over 60 percent to-date this year; and
- The gold:silver ratio -- the quantity of silver ounces needed to buy an ounce of gold -- peaked at 127:1 on March 18 and now stands at 72:1, a decrease of 43 percent.