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Highest Quarter for Gold in Three Decades

Mint Coins
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Both gold and silver products hit a record pace during the first quarter of 2016, showing the strongest growth in almost 30 years. American Silver Eagle experienced sales that exceeded 14.8 million—growth amounting to 16.5 percent—while another large and popular fund, the SPDR Gold Trust ETF surged 16 percent.

On the last trading day of the month, both gold and silver futures surged with gold at its strongest since the third quarter of 1986—$1,235.60 per ounce on the Comex division of the New York Mercantile Exchange, a record breaking price. Silver prices increased 3.7 percent during the first quarter, which is 12 percent more than what it ended 2015 at: $13.803 an ounce. Bullion surged more than 20 percent as compared to January 1, far exceeding expectations from analysts across the globe. No other asset class performed as well as these precious metals did during the first quarter.

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Many predicted that after such a strong quarter, demand for gold and silver will continue to increase steadily. Experts posit that the surge in gold and silver products is due to economic uncertainty, growing doubt in Central Banks and perceived market volatility around the world.

It makes sense that investors turn to gold and silver as a safe haven for investing when the market is in turmoil, as indicated with the Dow’s poor performance at the beginning of this year, which was its worst start to a year in history. The slowing Chinese economy, coupled with the crash in oil prices, made many on Wall Street panic. It makes sense that investors poured more than $13.4 billion into gold assets since the beginning of 2016.

It’s safe to say that the prospects for both gold and silver are glittering. Click here to learn more about silver products and investing in other precious metals.

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All articles are provided as a third party analysis and do not necessarily reflect the explicit views of GSI Exchange and should not be construed as financial advice.

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