Physical Buyers Jump on Lower Silver Prices, Prompting Longer Waiting Times

Bloomberg reported that the recent slide in silver prices has prompted an increase in demand for products from Silver Bullion Pte, one of Singapore’s largest suppliers of coins and bars to retail investors, which is resulting in dwindling stockpiles and longer delivery times.

As quoted in the market report:

Holdings of bars fell to just 54 ounces from 60,000 ounces two and a half weeks ago, according to founder Gregor Gregersen. It now takes at least six weeks for new supplies to arrive in the country up from two to three weeks previously, he said. The company, set up in 2009, counts the Perth Mint in Australia and the Royal Canadian Mint among its suppliers.

To view the whole Bloomberg report, click here.