The UK gold and the silver market is in freefall and trading in the precious metals is at record lows.
The price of a 1kg gold coin has fallen by more than 80% over the past five years, according to the latest Bloomberg data.
The price of 1,000g silver has fallen more than 70% in the same period.
Gold has slumped by over 60% in value over the same time.
According to data from GoldPrice, the biggest selling silver coin in the UK has fallen 75% in price since July last year.
In the past week, the price of silver has plummeted by nearly half.
It’s a huge fall, but it’s only the start of the problem.
Inflation is at the lowest level in three years, and a number of commodities have been hit by the decline in demand.
This year, gold will drop by another 10% to around $1,300 an ounce.
Silver has also fallen in value by almost a third, according a Bloomberg survey.
“The world’s largest and most widely traded commodity is at its lowest price since 2009, a drop that has led to a sharp decline in gold demand,” the survey said.
While gold and its value have declined, the silver price is also down.
A number of silver producers are also suffering from the fall in demand, with prices for both silver and copper plunging.
The fall in silver demand has been particularly noticeable in China, where the Chinese government has been cracking down on silver and gold trades, and has been targeting the country’s trading volume.
Despite the current economic slowdown in the world’s second-largest economy, gold and other commodities have risen significantly this year.
China’s stock market is currently up more than 100%, while gold is up more by more that 200%.
In response to the financial market collapse, the US Federal Reserve has raised interest rates twice in as many months, with the US central bank buying $40bn of US Treasuries and $20bn of other government debt to shore up the economy.
But gold has continued to see a huge surge in demand as investors seek safety in its safe haven status.
As the world price of gold has dropped, the market for silver is up.
Silver has been seen as the safe haven asset for many investors.
Over the past decade, its value has risen by more then $150bn, according to Bloomberg.
“The silver market has been on a roll for the past several years, as its strong price growth, and strong performance in gold and gold-backed assets like gold-based ETFs and gold and precious metals ETFs has helped it outstrip its peer market for gold,” said Norman Eisen, the president of the Federal Reserve Bank of New York.
Eisen added: “Silver’s continued growth and diversification make it the best safe haven for gold and commodities investors.”
It is also the best way to hedge against inflation.
“Silver is also being sold at record levels in many countries.
It is now the second-biggest silver-based asset in the global economy after gold, according the International Monetary Fund (IMF).
According the United States Federal Reserve, the value of silver is now up by more a whopping 4% this year to $2,200 per ounce.
Silver is now also up over 80% since 2007, when the price peaked at around $900 an ounce in late 2007.
Meanwhile, China has been hit hard by the financial crisis and has slashed investment.
China’s GDP has contracted for a fifth year in a row, falling to 7.3% in 2015.
Its trade deficit has ballooned by more over the last three years.
At the end of 2015, the country had $3.4tn of trade in goods and services with China.
However, the IMF has said that China is in need of a massive injection of funds to prop up its economy, as the economy continues to contract.
To help ease the economic pain, the Chinese authorities have been pushing up interest rates.
With China’s economy slowing, many Chinese investors are seeking safe haven assets to protect their money.
There are over 1,500 silver bullion ETFs on the markets.
Since 2007, the fund has held about $2.4 trillion in silver.
Investors are buying silver in huge numbers.
When they start withdrawing money from the market, it creates a big drag on the value.
Bloomberg recently reported that silver has jumped nearly 60% this month compared to a year ago.
This year alone, there are more than 500 silver ETFs registered.
On Friday, the National Association of Realtors said the total value of the global silver market had increased by more half a trillion dollars.
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