Commodities: Shining Silver

On the world's commodity exchanges, silver for some years has been about as volatile and exciting as molasses. The U.S. Treasury, as the chief free-world supplier of the metal, has kept the market quiet by selling bullion at a low $1.29 per oz. in order to keep the price below the point (about $1.40 per oz.) at which melting U.S. coins for their silver content becomes profitable. Last week, after the Treasury yielded to the rising demand on its own dwindling stocks by lifting the price lid after four years of control, silver exploded as the shining new commodity.


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