Silver has spiked nearly $1 over the past five trading days, breaching the $16 mark in intraday trading, but unable to hold over that threshold long, as the spot price now sits around $15.97. Multiple reports from commodities-related news outlets continue to relay the current shortage of privately fabricated silver rounds and bars, pushing lead times for delivery out further and further.
One problem is that demand can be very volatile; just a few months ago, demand for silver bullion was significantly lower, so private minting companies are hesitant to invest in expansion for fear of getting hung out to dry. Supply of 2015 dated Silver Eagles is expected to run out well before the end of the year, as the Mint begins the process of converting to production of the 2016 eagle.
Meanwhile gold, which does have its fair share of demand, remains in relatively good supply for both sovereign and privately minted products.