The extraordinary spike came after retail sites were overwhelmed with demand for bars and coins at the weekend. Outlets including Apmex, the Walmart of precious metals products in North America, said they were unable to process orders until Asian markets open because of unprecedented consumption.
“It’s been nuts -- over the weekend we saw about three weeks’ worth of accounts-opening in just a couple of days,” said John Feeney, business development manager at Guardian Vaults in Sydney. “Silver spiked at the open this morning as all that volume from over the weekend hit the market.”
January 31, 2021