Silver Advances a Third Day Amid Signs of Increasing Coin Demand
- U.S., Canada, Perth, Austrian Mints controlling distribution
- Zaner has been selling `as much product as we're getting in'
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Silver futures advanced for a third straight session amid signs of tightening supply as demand rises.
The U.S. Mint, Royal Canadian Mint, Perth Mint, Austrian Mint and British Royal Mint are placing limits on silver-coin sales, pointing to “considerable tightness” in the market, the Silver Institute said in a report Tuesday. Lead times have been stretched from immediate delivery to three to four weeks in some cases, an “unusual occurrence,” the group said. Gold futures also rose.