New 600 ton silver vault opening in Singapore


Silver Bullion Pte - a Singapore supplier of coins and bars to retail investors - is opening the vault after sales doubled to 1.04M ounces last year, says founder Gregor Gregersen. “While prices dropped last year, we saw physical demand went through the roof." The vault could hold $390M worth of silver at current prices.

The boosted demand comes not just as the price of silver drops, but as the price drops relative to gold - silver fell 36% last year vs. gold's 28% decline.

The opening of this vault follows a 200-ton vault opened last summer by a different firm. Storage is now full.

ETFs: SLV, AGQ, SIVR, USLV, ZSL, DSLV, DBS, SLVO, USV

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Comments (3)
  • Dorleans
    , contributor
    Comments (26) | Send Message
     
    The Real price of spot silver is $2+ poss dollars over the quoted price (excluding commission, helping define the difference between silver and SLV.
    24 Mar 2014, 08:01 AM Reply Like
  • Budavar
    , contributor
    Comments (1410) | Send Message
     
    Thank u for the positive news on slilver.
    24 Mar 2014, 09:08 AM Reply Like
  • WRC_168
    , contributor
    Comments (143) | Send Message
     
    But paper market responded otherwise. Someone there expressing their unhappiness & trying to show who's the boss?
    24 Mar 2014, 09:02 PM Reply Like
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