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Tavex Statement on current silver market conditions

Published by Vikram Sundarasekhar in category Precious metals on 01.02.2021
Gold price (XAU-SEK)
14 991,70 SEK/oz
  
+ 296,30 SEK
Silver price (XAG-SEK)
218,97 SEK/oz
  
+ 3,81 SEK

We are experiencing tremendous demand for physical silver and are working hard to keep up with the orders. The price of silver has increased by almost 10% in a single day. The demand for silver is high not only in Sweden but worldwide. You can read more about it here: Bloomberg link

 

Web-shop

Please note that due to the situation that we have, coupled with the uncertainty of ordering silver products from the market, it is not possible to order several silver products from our webpage. At the moment, only 1oz coins from the Austrian mint are available for purchase. We work to keep up with the high demand and process the large number of orders that we §have received the last few days. We have made strategic decisions to buy additional silver that we can find in the market place. Unfortunately, the mints have already increased the premiums on silver, as they are faced with dramatic increase in demand. We will therefore have to increase our prices in order to cover our costs. It is also highly likely that we will need additional time (4-5 days) to fill orders based on current order counts. Last but not least, due to the ongoing pandemic, logistical challenges continue to affect the speed of delivery.

 

 

Temporary terms for web orders:

Self-pick-up is only possible from Tavex head office, Smålandsgatan 9, Stockholm

 

Temporary telephone hours:

Weekdays kl 10.00-17.00; Weekends: closed

We try to keep up with the demand and process the orders as fast as possible.

 

Please note that we get many phone calls as well as orders, and we have limited staff. We do our best to serve all of our customers in the best possible way.

 

Due to unprecedented demand for gold and silver bullion along with the fluid situation as it relates to COVID-19, all orders may have further extended delays which are past our normal processing time. We are working around the clock to ship all orders as soon as possible.

 

We want to thank our customers for their patience and understanding during these turbulent times. Tavex as Northern Europe’s biggest bullion dealer, prides itself on best-in-class service and delivering on promises to our customers.

Please visit our website for updates on the situation. You can also subscribe to the Tavex Newsletter (https://tavex.se/tavex-nyhetsbrev/) to keep up to date on the situation in the precious metal market and various products.

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