Very High Demand For Physical Silver Bars in Kuwait

This is a trending topic all across the world after where people are buying physical silver and storing it until the price increases multiple folds. I don’t know when will silver increase, but I believe it will eventually happen in the next few years. My main reason is the historical prices of silver where it was much more expensive back in 1980 than today. It used to be $120 an ounce during the peak back in 1980 and today it is around $27 an ounce. Considering all the inflation in the world, this is the only product that didn’t inflate. When I saw the historical prices, I decided to go to the market and shop around. I never bought gold or silver in Kuwait, so I had no clue where to buy it. When I was living in the US, I used to buy gold and silver from Apmex as collectables. It is my favorite website to buy gold and silver. I like their designs a lot, which was the main driver for me to collect them. I went to Kuwait Central Gold Market and I was going from one store to another to ask about the prices. I walked into one of the stores and there was an old man buying silver bars, so I asked him what is going on with silver. He held 1 Kilogram bar and he told me, this is much better than Game Stop stock, buy it and you won’t regret it. He convinced me to buy, so I bought few bars and some of my family members did the same. Each Kilogram was selling for 285-287 KD. The next day my brother went, and he barely found 1 Kilogram and they told him people bought the entire silver in Kuwait Central Gold Market. They told him other places might have it, but they don’t know any as of their knowledge. He bought what they claimed to be the last bar at 313 KD, and on the same day. Prices of silver jumped 11% reaching 8 years high, but dropped again 7% the next day. I went again today, and the same stores that told my brother they didn’t have any, they said they now have and willing to sell at 285-290 KD. I believe they were holding the stock because of the massive demand, but since prices dropped the following day, they let go of their stock. The interesting thing I saw today is that lots of people old and young are buying silver bars. The store owners were asking me what is going on with silver that made such amount of people to come and buy. I never expected the posts on Wall Street Bets to increase the demand of silver in Kuwait that much.

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