Gold has rallied after the first lock up of a silver coin at the Coin Locker Girls’ Shop in Bristol, while silver was trading at around $1,500 per ounce.
The lock-up of silver coin was announced on Wednesday morning by the Silver Locker girls, who have been running a shop in the city’s East End since 2011.
They are selling coins from 1 July at a fixed price of £1.50 for silver, up from £1 earlier in the week.
Silver coin price is at $1.4K to £1,475 at Coin Locks for a daily average of £2.24 per coin, according to the website.
The latest price is higher than the last lock up in June, when a silver coins worth £1 per ounce were being sold at a cost of £0.25.
Silver prices had earlier surged on the news that the first gold coin was due to be released at the start of next month.
Gold jumped as much as 13 per cent on the same day, and silver was up almost 6 per cent.
The UK silver market has been affected by a severe winter in which the market for silver has fallen, with silver falling in value.
On Thursday, the price of gold rose after a report from the International Monetary Fund that global inflation was running at an annual rate of around 4.3 per cent and global unemployment at 9.7 per cent, which was down from 10 per cent in the previous week.