Silver Vault for 200 Tons Starts in Singapore as Wealthy Buy – Bloomberg 07-28-13

Salient to Investors:

Demand for physical precious metals is increasing among Asia’s wealthy even as silver leads declines this year. Investors in silver are mostly private individuals, investors in gold are mostly institutions. 50 percent of silver is used in industry, versus 10 percent for gold.

Cap Gemini and Royal Bank of Canada said the number of individuals with $1 million or more in investable assets climbed to 3.68 million in the Asia-Pacific region in 2012, boosted by additions in Singapore and Hong Kong.

Silver holdings in ETPs is 1.6 percent higher in 2013, while assets in gold-backed ETPs have contracted at a record pace, down 25 percent.

Barclays said China accounted for 43 percent of worldwide economic growth from 2007 to 2012.

Goldman Sachs predicts $19.60 for silver and $1,175 for gold in 12-months.

Jan Hatzius at Goldman Sachs said the Fed will start tapering in September.

Read the full article at  http://www.bloomberg.com/news/2013-07-28/silver-vault-for-200-tons-starts-in-singapore-as-wealthy-buy.html

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