BULLION FORECAST OVER VIEW 2015:

GOLD:

Forecast contributors are expecting gold prices to remain broadly flat in 2015, forecasting the gold price to average $1,211/oz, 0.6% lower than the first half of January 2015, and to trade in an average range of $1,085 to $1,356 during the year. Ross Norman is the most bullish analyst with his forecast of $1,321 and Adam Myers the most bearish with $950.

SILVER:

Analysts are slightly more optimistic about the prospects of silver in 2015, forecasting a modest increase in price of 2.1% to $16.76/oz, with prices forecast to trade in an average range of $13.91 to $19.36. Ross Norman is again the most bullish ($18.56) with Robin Bahr the most bearish ($13). 

Zurich Based UBS trims its average 2014 Silver price forecast from $22.30 to $21.80/Oz

 

UBS trimmed its this year average silver price forecast from $22.30 an ounce to $21.80 an ounce, saying the metal struggled to fully benefit from gold's safe-haven first-quarter gains.

ZURICH (Bullion Street): Zurich based UBS trimmed its this year average silver price forecast from $22.30 an ounce to $21.80 an ounce, saying the metal struggled to fully benefit from gold’s safe-haven first-quarter gains.

According to UBS, it should do better when the economy recovers, but silver needs convincing economic growth before it can start outperforming gold.

The Swiss bank keeping its this year average yellow metal price forecast at $1,300 an ounce, saying the yellow metal should trade range-bound. It kept its 2015 forecast at $1,200 an ounce.

Bank's Platinum group metal's (PGMs) forecasts are also unchanged. UBS remains bullish on PGMs, with the 2014 platinum price forecast at $1,500 an ounce and 2015 at $1,750 an ounce . The 2014 palladium price forecast of $825 an ounce is unchanged, but UBS raised its 2015 forecast to $875 an ounce from $850 an ounce.

(Washington, D.C. – March 18, 2014) Silver jewelry sales in the United States were robust in 2013, with 73% of jewelry retailers reporting increased sales last year, according to “Silver Jewelry Buying Trends,” a survey conducted by the prominent jewelry trade publication “National Jeweler” on behalf of the Silver Institute’s Silver Promotion Service. The survey also finds that silver jewelry has become an increasingly important category for many jewelers for the past several seasons, both in driving sales and providing margin.

Highlights from the survey include the following:

• Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, were on average 33% of their unit volume and 29% of their dollar volume.
• The average increase in 2013 for silver jewelry sales was 17%.
• 66% of the jewelry retailers said their 2013 holiday season sales of silver jewelry increased over the 2012 holiday season.
• The best maintained margins during the holiday season were as follows:

(Percent rating category as “best”)

Silver Jewelry	36%
Diamond Jewelry	28%
Bridal Jewelry	17%
Gold Jewelry	13%
Platinum Jewelry	6%

• 92% of retailers say they are optimistic that the current silver boom will continue for the next several years.

The Top 12 Signs That The U.S. Economy Is Heading Toward Another Recession

 

Is the U.S. economy steamrolling toward another recession?  Will 2014 turn out to be a major "turning point" when we look back on it?  Before we get to the evidence, it is important to note that there are many economists that believe that the United States never actually got out of the last recession.  For example, data compiled by John Williams of shadowstats.com show that the U.S. economy has continually been in recession since 2005. 

So if anyone out there would like to argue that America is experiencing a recession right now, I certainly would not have a problem with that.  In fact, that would fit with the daily reality of tens of millions of Americans that are deeply suffering in this harsh economic environment.  But no matter whether we are in a "recession" at the moment or not, there are an increasing number of indications that we are rapidly plunging into another major economic slowdown.  The following are the top 12 signs that the U.S. economy is heading toward another recession...

#1 We recently learned that the number of new mortgage applications in the United States had fallen to the lowest level that we have seen in nearly 20 years.

#2 Radio Shack has announced that it is going to close more than 1,000 stores.  This is just another sign that we are in the midst of a "retail apocalypse".

#3 The ISM Services index just fell to its lowest level in 4 years, and ISM Services Employment just experienced its largest decline since the collapse of Lehman Brothers.

#4 Obamacare is really starting to hammer the U.S. health care industry...

"The Affordable Care Act is creating significant financial uncertainty to health care organizations," said a survey respondent from the health care and social assistance industry.
"With little warning, the negative impact on revenue has been unprecedented."

#5 Trading revenue at the "too big to fail" banks on Wall Street is way down...

Citigroup Inc. (C) and JPMorgan Chase & Co. (JPM) are bracing investors for a fourth straight drop in first-quarter trading, a period of the year when the largest investment banks typically earn the most from that business.
Citigroup finance chief John Gerspach said yesterday his firm expects trading revenue to drop by a “high mid-teens” percentage, less than a week after JPMorgan Chief Executive Officer Jamie Dimon said revenue from equities and fixed income was down about 15 percent. If trading at the nine largest firms slumps that much, it would extend the slide from 2010’s first quarter to 36 percent.

#6 One of the "too big to fail" banks, JPMorgan, is planning to fire "thousands" more workers.

#7 Moody's has downgraded the credit rating of the city of Chicago again.  Now it is just three notches above junk status.

#8 The U.S. economy actually lost 2.87 million jobs during the month of January according to the unadjusted numbers.  Over the past decade, the only time the U.S. economy has lost more jobs during the month of January was in 2009 at the peak of the last recession.

#9 In January, real disposable income in the U.S. experienced the largest year over year decline that we have seen since 1974.

#10 Only 35 percent of all Americans say that they are better off financially than they were a year ago.

#11 Global retail sales for machinery giant Caterpillar have fallen for 14 months in a row.

#12 The economic data show that virtually all of the largest economies on the planet are slowing down right now.  The following is from a recent Zero Hedge article...

The last 3 weeks have seen the macro fundamentals of the G-10 major economies collapse at the fastest pace in almost 4 years and almost the biggest slump since Lehman. Despite a plethora of data showing that 'weather' is not to blame, US strategists, 'economists', and asset-gatherers are sticking to the meme that this is all because of the cold on the east coast of the US (and that means wondrous pent-up demand to come). However, as the New York Times reports, for the earth, it was the 4th warmest January on record.

For much more on how the rest of the global economy is also slowing down, please see my recent article entitled "20 Signs That The Global Economic Crisis Is Starting To Catch Fire".

Meanwhile, things in Ukraine continue to become even more tense, and the Russian government continues to debate how it will respond if the U.S. does end up deciding to hit Russia with economic sanctions.

According to one Russian news source, the Russian parliament is actually considering the confiscation of the property and assets of U.S. businesses in Russia if the U.S. decides to go ahead with economic sanctions against Russia...

The upper house of Russia’s parliament is mulling measures allowing property and assets of European and US companies to be confiscated in the event of sanctions being adopted against Russia over its threatened military intervention in Ukraine.

We are talking about banks, retail chains, mining operations, etc.

U.S. companies have billions invested in Russia, and all of that could be gone in an instant.

So let us certainly hope that economic war between the United States and Russia is averted.  Our economy is hurting enough as it is.

But no matter how things with this crisis in Ukraine play out, it looks like hard times are ahead for the U.S. economy.

Unfortunately, most Americans never learned the lessons that they should have learned back in 2008.

They just assume that the federal government and the Federal Reserve have fixed our problems and have everything under control, so they are not preparing for the next great crisis.

In the end, tens of millions of Americans will be absolutely devastated when they get absolutely blindsided by what is coming.

Silver markets fell during the session on Friday 10/04/2014, dipping below the $21 level, but remain above the crucial $20.50 handle. 
Down there, there is a ton of support, so any type of supportive candle in that general vicinity would have us buying silver, ultimately aiming for the $23 level. 

This is a choppy market, but this pullback might be just what the buyers need to feel refreshed and continue going higher over the longer term. 

Ultimately, we are bullish of this market, and have no interest in selling silver as we do believe that longer-term it’s going to perform quite well.

 

Turkey's total silver imports during January- February period this year reached 28.76 tons, rose 107.9% compared to 13.83 tons in the same period last year.

 

Turkey's gold imports recorded a 93% year-on-year decline in February this year, according to the latest data released by Borsa Istanbul, the exchange operator in Turkey.
Turkey imported 1.27 tons of gold in February compared to 17.34 tons in the same month last year. Gold imports recorded a 79% decline against the import of six tons in January 2014.
Meanwhile, the country's silver imports rose to 19.45 tons in February, advanced by 310.97% compared to 4.73 tons in January 2013.

 

LONDON (Bullion Street): Precious metals are expected to post gains on further deterioration of the Ukraine crisis. Spot gold jumped more than one per cent and stood at USD 1,343.70 an ounce in early European trade and silver was bid higher at USD 21.46 an ounce. 

Precious metals have done well so far benefiting from US growth concerns and emerging market jitters, silver acting increasingly like a leveraged play on gold. 

Platinum and Palladium prices rose on growing supply-demand imbalances as South Africa labour strife continues. 
 
"With Russia rattling its sabre in the Ukraine, macro imbalances in some key emerging market economies still unresolved and continued uncertainty about the strength of US, Europe and Japan recoveries, demand for perceived safe havens such as gold should remain strong in our view."


Silver shot up also due to consistent demand from jewellery as well as coin makers in the world.

GOLD & SILVER PRICES HIKING as Russia Vows to Stay in Ukraine, Stockmarkets Slump, China's Trading Volume Hits 3-Month High

 

GOLD PRICES jumped Monday morning as traders got their first chance to respond to the weekend's events in Ukraine and China.

 

Surging to $1350 per ounce by the start of London trade, gold prices then eased $5 lower as European stock markets fell hard.

 

The EuroStoxx 50 dropped 2.7% by lunchtime, while Ukraine's neighbors Poland and Hungary saw their stock markets lose 4.7% and 5.5% respectively.

 

Slovakia's Bratislava stock exchange didn't open for business.

 

"We expect safe haven demand to wane," says a 2014 gold prices outlook from ABN Amro, "because of an overall improvement in investor climate and continued low inflation."

 

"The gold advance is running out of steam," said Bank of America Merrill Lynch in a note late last week, forecasting "a top and bearish turn in trend" around $1351.

 

"The weekly chart looks bullish," counters the latest technical analysis from London market maker ScotiaMoccata's New York desk.

 

With Russia's foreign minister vowing Monday morning that his troops will remain in the Ukraine's Crimea region, defending against "ultra-nationalist threats" despite Western demands to quit, Moscow's top 50 blue-chip stocks dropped 11% this morning, and the Russian Rouble fell to new all-time lows against both the Dollar and Euro.

 

Reuters reported rumors that Moscow today spent $10 billion trying to buoy its currency.

 

As news reports said Russian troops also continued to operate at Ukraine's eastern border, Chicago wheat contracts rose 5.2%, and copper hit a 3-month low.

 

Major Western government bond prices rose further, pushing 10-year US Treasury yields down to 3-month lows at 2.60%.

 

Silver more than doubled the spike in gold prices, adding 2.8% at the top to touch a 3-day high of $21.70 per ounce before dropping just as quickly to $21.45.

 

Meantime on the Shanghai Gold Exchange, and after the weekend's terrorist knife attack in Kunming, south-west China, trading volume in the most active gold contract today jumped to CNY 12.1 billion, its highest level since 21st November.

 

But prices on the Shanghai Gold Exchange again fell to a discount to London settlement, repeating the pattern of last week as the Yuan fell to new 3-month lows on the currency market.

 

"It is not only ETF investors who have rediscovered the merits of gold in recent weeks," says a note from Germany's Commerzbank, referring to the halt in sales of gold from exchange-traded trust funds which totaled 880 tonnes last year, equal to almost one-third of world mine supply.

 

"Speculative financial investors are also betting more on rising gold prices again" through US futures, says Commerzbank, noting how latest regulatory data show "net long positions expanded by 40% [last week] to a 13-month high."

 

But calling speculative positioning "frothy" and "over-extended", Swiss investment and bullion bank UBS warns that "the substantial increase in a relatively short span of time raises the potential for a short-term washout once geo-political risks dampen."

 

UBS also notes, however, that the rise in speculators' net long positioning came "mostly on short covering", with hedge funds and other speculative players cutting their bearish bets by 26% and growing their bullish bets by only 1.6% from the week before.

 

By Adrian Ash at BullionVault. Buy & Keep Gold at safest Vault in the World.

THE PRECIOUS METAL STORM IS COMING : The Public Is Not Prepared

The stock markets are experiencing volatile trade winds. The barometer of the world economy grows weak as indicators point to another recession looming on the horizon.

The Precious Metal Storm is coming... unfortunately, the public is not prepared.

U.S. and UK are heading toward an economic collapse that civilization has never witnessed before. Even though we have suffered greatly through World Wars and global depressions, we have always been able to pull ourselves out of the chaos and destruction by regrouping and rebuilding.

The U.S  and UK are heading down because analysts, intellectuals and the movers & shakers running the show, have allowed their ignorance-greed rather than their intelligence-wisdom to guide monetary, economic and governmental policy.

The chart below shows where the majority of U.S. personal sector monetary cash assets are allocated. These do not include retirement or security investments, but are rather paper assets we may label as "Cash or Cash Equivalents."

According to the Federal Reserve Q3 2013 Statistical Release, the U.S. public held $1,174 billion in Money Market Fund Shares, $1,332 billion in Checkable Deposits & Currency and $7,723 billion in Time & Saving Deposits. Thus, there is a total of $10,229 billion or $10.2 trillion in these paper cash assets.

The next chart below details the holdings of the different Silver ETF's from around the world:

As we can see there are 655 million oz of silver held in these Silver ETF's. If we multiply the 655 million oz by $21, we would get a figure of $13.7 billion. 

If we assume that this is the largest store of physical silver in the world, its total value ($13.7 billion) pales in comparison to $10.2 trillion held in U.S. personal cash assets.

Now, if we were to include the current 182 million oz of silver at the Comex and let's say there is another 200 million oz at the LBMA, that would add another $8 billion to the figure... giving us a total of $22 billion.

The U.S. public has $7.7 trillion stashed away in digital Time & Savings Deposits.

However, Time & Savings Deposits are "extra or surplus" funds that are generally not used in the day-to-day business of Americans. Thus, the total value of the Global Silver ETF's are 0.2% (one fifth of one percent) of the value of all U.S. Time & Savings Deposits.

This may not seem so strange to the typical American today. Just fifty years ago the U.S. Dollar was backed by gold and the coinage had a great deal of silver in it.

After President Lyndon Johnson signed the "Coinage Act of 1965", which removed silver from circulation, within a few years... it was difficult to find a silver coin. Once silver was removed from official U.S. coinage, it went into hiding.

The term "went into hiding" means the public instinctively understands the implications of Gresham's Law -- bad money drives out the good. When the U.S. Government starting minting base metal slugs as official money, it didn't take long for the public to withdraw the real money (silver) from circulation.

A few years after the signing of 1965 Coinage Act (removing silver from circulation), the next shoe to drop was gold. On August 15, 1971, Nixon closed the gold window, which meant foreign governments could no longer exchange U.S. Dollars for physical gold.

Because the U.S. was printing so much money in the 1960's to cover the costs of social programs and the war in Viet Nam, foreign countries were exchanging paper Dollars for physical gold. During the 1960-1968 time period, the U.S. was a part of the London Gold Pool that attempted to hold the price of gold at $35 by selling thousands of tons of gold on the market.

The biggest loser in the London Gold Pool was the U.S. as it exported over 4,700 metric tons during that nine-year time period. Here again was another example of bad money driving out good.

If we fast forward to today, Gresham's Law is alive and well as the East continues to exchange worthless fiat Dollars for physical gold. Not only did the Chinese import a record amount of gold in 2013, they also imported a stunning 247 metric tons in January.

Currently, China and many other Eastern countries are focusing on acquiring physical gold... as it is the king of monetary metals. However, this does not mean that silver will miss the huge transfer of wealth show because it is now just a supposed "Industrial Metal."

Silver is still a valued monetary metal due to the fact that the Official Mints continue to produce both Gold & Silver Eagles, Maples, Philharmonics, Koalas, Kangaroos, Pandas and Libertads. Do you see these Official mints producing these coins in copper??

Regardless, demand for silver is picking up as both India and China have increased their net imports of silver over the past several years. 

China has gone from being a big net exporter of silver, to a net importer since 2010. In 2009, (last year being a net exporter), China had net exports of 1,260 metric tons. However, in 2012, China became a net importer of 82 metric tons.

While this may seem like an insignificant figure presently, it is the beginning of another trend change that will more than likely continue to a greater degree in the future.

Furthermore, when the Indian Government cracked down on gold imports in 2013, its citizens switched to buying silver. Indians imported a record 5,400 metric tons of silver in 2013:

This was a record amount of silver imported by India, estimated to surpass the 5,049 metric tons set in 2008. This provides proof that citizens of the world will instinctively purchase silver if they cannot acquire gold. When one monetary metal is unavailable, demand for the other will increase.

If we consider that the U.S. public holds $7.7 trillion in Time & Savings Deposits while the world has a paltry $13.7 billion in total Global Silver ETF's, something is very wrong with the public's ability to understand the wisdom of "real value."

We must remember the KEY INGREDIENT that keeps a Ponzi Scheme alive is the ability to hoodwink a new batch of POOR UNWORTHY SLOBS to part with their hard-earned fiat currency. 

If a typical Ponzi Scheme needs a new supply of victims' funds to keep it going, the Global Fiat Monetary Ponzi needs a growing supply of energy to keep it from collapsing.

The Fiat Monetary System and Derivative's Monster are heading toward certain death.... it's just a matter of time.

S

teve St. Angelo, SRSrocco Report Feb 2014.

 | 

Silver Has More Potential Than Gold - Mike Maloney

I invest 90% of my Cash in Silver & 10% in GOLD! 

 

Silver Has More Potential Than Gold - Mike Maloney I keep 90% of my Cash in Silver

Sliver LONDON FIX RATE:

Silver Fixes daily at 12 pm London Time daily in week days.

The first Silver Fixing took place in 1897 at the office of Sharps & Wilkins.
For over 110 years we have been fixing the price of silver providing market users with the opportunity to buy and sell silver at a single quoted price. It also provides a published benchmark price that is widely used as a pricing medium by producers, consumers and investors.

SILVER FIXING BENEFITS

• International benchmark
• Published price
• Narrow dealing spread
• Any quantity may be dealt
• Anonymity
• AVAILABLE TO ALL

Current Members: Current Chairman Scotiabank, Simon Weeks , Deutsche Bank and HSBC.

ADDRESS
Winchester House,
1 Great Winchester Street
London  EC2N 2DB
CONTACT
Matthew Keen
EMAIL
matthew.keen@db.com

Immediately prior to the commencement of the Fixing the Chairman determines what is considered to be the then prevailing US Dollar spot price for loco London silver in the market and such price will be used as the opening price for the Fixing process.

Each of the three Fixing Members will declare whether, at the opening price, they have buying, selling or no interest.

If there is no buying and no selling interest at the opening price from any Member the Chairman may announce the price as “Fixed” at that opening price.

Silver Posts Longest Rally in 45 Years on Rising Haven Demand

Silver posted the longest rally in at least 45 years on demand for an investment alternative amid concerns that the global economy will falter.

Silver has gained 13 percent this year as demand for coins and jewelry surged. 

Holdings in exchanged-traded products backed by the metal climbed last year as the spot price tumbled 36 percent, the most since 1981, amid a U.S. equity rally to a record.

Spot gold has advanced 9.6 percent this year, while the dollar has dropped against a basket of 10 major currencies.

“The premium for gold and silver has increased as people are nervous about U.S. growth. 

 “The turmoil in the currency market has also pushed people toward precious metals.” 

Silver for immediate delivery rose 1.1 percent to settle at $21.9348 an ounce at 5 p.m. New York time. The price climbed for the 13th straight session, the longest rally since at least 1968. Yesterday, the metal reached a nine-week high of $21.9791.

 On Feb. 14, silver closed above the 200-day moving for the first time in a year.

“It has broken the downtrend, so there is some technical buying.

Silver futures for March delivery rose 2.2 percent to settle at $21.898 on the Comex in New York. Trading more than doubled versus the average in the past 100 days, data compiled by Bloomberg shows.

In the week ended Feb. 11, hedge funds turned bullish on silver with the net-long positions at 7,675 futures and options contracts, compared with 353 contracts in bearish wagers a week earlier, government data showed on Feb. 14.

February 14th 2014, Weekly Silver Market Update

Gold and silver have had their most impressive 5-day session of the last few months this week. Not only did gold approach and subsequently cross over the $1,300 threshold, it is on the verge of surpassing the $1,325 mark as well. S

ilver performed in much the same way as gold, picking up well over a dollar this week and currently approaching £410/kg.

While these impressive gains may lead one to believe that this week was full of bullish economic news stories and data, the reality of the matter is that this week has been generally quiet.
Some things that did take place this week, however, included a positive report on January imports and exports for China, the inaugural address to Congress given by the newly appointed Federal Reserve chairperson, as well as an updated, increased forecast on UK GDP growth for 2014.

THE DEMAND OF SILVER

From Coins to dental alloys and from mirrors to paints, the precious metal silver is used in numerous areas. Today the industrial use account for 44% of worldwide silver consumption.

The Average Demand of Silver Worldwide in 2013 still stood as follows:-

Industrial	367.1 Moz
Photography	181 Moz
Jewelry & Silverware	247.5 Moz
Coins and Medals	41.1 Moz

The Demand of Silver in the United States

Industrial	94.2 Moz
Photography	55.2 Moz
Jewelry & Silverware	15.4 Moz
Coins and Medals	15.5 Moz

The use of Silver in catalysts is expected to keep growing. Catalysts basically help speed up the rate of a chemical reaction, producing the desired end-product without actually being part of it. The primary use of silver in catalysts is to produce ethylene oxide, which then goes to make polyester and other materials, as well as detergents, agro-chemicals and pharmaceuticals. This is a growing market, where industry analysts expect 14% increase in annual production over the next 20 years. Currently China's demand is growing at a faster pace.

For silver use as the EO catalyst, it is expected that this industry, which currently uses around 100 million ounces, will go as high as 138 million ounces by the year 2020. 

The silver as a catalyst, once used, is reclaimed again after a period of time in use. Per change, there is an approximate loss of about 2% of silver. And with each catalyst in this industry holding around 2 moz of silver, that would indicate a loss of 40,000 ounces per change out. But the truth is that even this metal isn't lost to the market in the end, as it eventually does get reclaimed at a later stage by the refinery.

It is claimed that there are 100 million ounces of silver in catalyst form at any given time. As long as this industry continues to need silver to produce this reaction, and create ethylene oxide, then that silver will not return to the market. But if ever there is a scientific advancement where users can either thrift in the catalytic process or remove silver completely, then some or all of that silver may come back. This is always a threat to any commodity, but more so if the commodity is pricier compared to similar metals.

Gold investor sentiment dropped to 51.9 in the month, compared to 52.9 in December. 
This Kind of drop mainly from the broader investing public's lagging reaction to gold prices.
Gold sentiment could certainly move higher next month if global and emerging market issues continue to plague the headlines. Gold could spike above $1,300 sometime this quarter.  

Silver's greatest value to industrial use:

Silver being a thing of beauty as well , it finds great use in both jewelry and investment bars and coins, which together represented 28% of silver consumption in the year 2012. But for the sake of focus in this special report on silver use – and its outlook – i want to give careful attention to certain parts of the industrial sector. Silver use may struggle to keep up its rapid growth in recent years, as new uses are not grown at a faster pace across the globe.

 

The photovoltaic industry. where, silver helps to convert sunlight into electricity. In 2008 alone the solar industry came on like gangbusters, growing its silver use by 155%.

 

Up until 2010 the growth in the PV industry's silver remained voracious because subsidies for the sales of solar cells were started to be withdrawn by the governments in the USA and Europe. They had been supporting the market so that the photovoltaic energy industry could compete against the less costly fossil fuels currently in place.The aim was to give the solar energy industry the boost it needed to get onto a level playing field, in terms of cost, with those existing fuels. Essentially, as time has passed, the photovoltaic industry is coming closer to that goal. But then, enter the year 2011. The silver price traded up to new three-decade highs. At the same time, there were fewer and fewer government subsidies for the PV industry. So due to these market changes, silver became expensive and difficult to manage as part of the solar cell manufacturing process. Silver use by the solar energy industry worldwide roughly stands at 51.5 million ounces annually. At this level, the industry consensus is that photovoltaic no longer represents the bull consumer that silver producers once enjoyed.

Silver Use: Changes & Outlook in Industrial Demand.

Silver use will be rising worldwide. It grew by one fifth in the 10 years to 2012. Investment played a large part in that. But apart from silver's use as a keep of value, it has been called the "indispensable metal" forever reason.

''Just at the current Silver Industrial Conference in Washington, DC for instance, gloves lined with microfibers regarding silver were tested – which is to help you to use your smart phone outdoors in the cold winter of the North East Coast. The silver gloves worked like no bodies business. So will silver's use within a growing range of applications, I believe so!''