Brexit Helps Push Silver Value to 23 Month High

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silver

2016 has certainly been kind to precious metals, but this past week has seen gold and silver reach new highs that haven’t been witnessed in a long time. Silver in particular has made the best gains, and reached $19.75 per ounce before the market closed on Friday. Silver hasn’t been that high since August of 2014.

This isn’t a gradual increase either. It’s an explosive growth spurt. Just three months ago silver had reached an 11 month high. Now silver prices have reached a 23 month high. Several factors appear to be influencing these gains, including a weakening dollar, and the fact that the Fed may cut interest rates in light of the Brexit vote.

The Brexit vote fueled the price of gold after the British pound fell precipitously on June 23rd. The Brexit has also prompted speculation over the stability of the EU, after political figures in several EU nations demanded or considered their own referendums. The threat of an EU collapse was partially responsible for investor demand for gold before the metal’s price plummeted in 2013.

Still, silver is being seen as the real winner after the Brexit vote. Silver not only increased in value, its gains were much higher than gold’s. The gold-silver ratio fell to 67.95 to 1 on Friday, the lowest it has been since August of 2014.

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Contributed by Joshua Krause of The Daily Sheeple.

Joshua Krause is a reporter, writer and researcher at The Daily Sheeple. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshua’s reports at Facebook or on his personal Twitter. Joshua’s website is Strange Danger .

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  • Recommended..

    The benefits of the Brexit will continue..

  • Robert Brown

    what is weird is that if you go to usdebtclock.org it shows silver/gold ratio to dollars.. silver is worth $866 and gold is worth $7600

  • Stewpedaso

    Why…just why…why is silver and gold still a thing for the prepper community…bring as much as you want to my door to beg for supplies and you will get nothing, bring me skills, books about skills, useful items for food prep…you know things I can use tools, weapons or piss off

    • Herman Nelson

      No, it won’t be people with PM’s showing up to your doorstep; it will be people who laughed at your “insurance policy” and thought you were a moron for taking responsibility for your own survival instead of relying on the government. Welll.. Who’s the moron now? You or the guy banging on the door? I’m betting a case of MREs that it’s the guy banging on the door begging.

  • ExecutorOffice

    buying gold / silver in times of deflation might still be ok to speculate about.

    • Frank Energy

      The grammar police will be at your door, follow the white rabbit

  • andrew james

    Smooth sailing until right around 50. That’s where they seem to get their panties bunched up about it. We might kick down the barricades this time. I know not what path ewe or udders might take but as for me I will take more Argent.

  • Frank Energy

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