Immediately prior to May, silver futures were on the brink of achieving two notable miklestones not seen since January 1980: surpassing the $50 per troy ounce psychological barrier and breezing by the all-time record high of $50.35 per troy ounce.
However, within the first several trading sessions of May, the commodities market endured a large fall and silver futures were set back to about $32 per troy ounce. Silver's crash influenced the other commodities' to perform poorly as well, according to some analysts.
Bloomberg reports the U.S. Mint sold 30 percent more American Eagle silver coins in May as compared to the month prior. In May, the Mint sold 3.65 million ounces of the silver coin, which bring yearly figures to 18.9 million ounces.
During the same period of 2010, the U.S. Mint had sold 15.2 million ounces of silver.
Some analysts believe the volatile metal is set to charge upward in value again; on the first day of June, silver futures are within the $40 per troy ounce mark.
At 12:12 p.m. on Tuesday, silver futures fell 1.01 percent, a 0.385 drop to $37.92 per troy ounce.
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