UK Silver Exchange specialise in buying and selling silver, whether it be in the form of bullion, antiques or scrap metal.

Call us today +44 (0)1594 546328

Latest News

Pound slumps to $1.27

Tuesday, October 4, 2016

As the pound slumped to a 31 year low of $1.27, the stock market soared on the back of UK businesses benefitting from the lower exchange rate with the increased competitiveness of UK goods and the higher value of profits, when converted to Sterling. The FTSE100 closed just below an all-time high, at 7074. The UK is currently the fastest growing economy in the G7 group of nations and UK exports are booming.
A weak pound generally has a positive influence on metal prices, but in this scenario, money is moving out of metals and in to UK stocks and shares. Silver prices ended the day below £14/oz for the first time since the initial post-Brexit surge.