Bloomberg describes spoofing as placing “orders that are quickly canceled before they can be executed — to push precious metals up or down”. “Just given the amount of money printing combined with how under-owned silver has been for the last seven years. Plus, industrial demand combined with increased investor demand, we could see that $50 mark,” he said. Again, gold around $1,700 an ounce, so on the higher end of its historical range has performed more like we would have thought.

Its mandates are to provide the global market with reliable statistics and information on silver and create and execute programs that help drive silver demand. For more information on silver, including its use in the green economy, please visit The silver market transitioned to a deficit (total supply less total demand) in 2021, for the first time in six years.

The expansion of charging stations which rely on silver is also on the increase. Let’s look at them first, before moving on to our unique analysis of the basis. “Silver had relatively poor performance over the last few years prior to 2020. There wasn’t too much investment in the silver mining sector over that period. Prices were quite depressed,” Feeney said. “The move that we saw in 2020 was just the beginning of a bull market.” While central bank trading is a primary determinant of the price of gold and other currencies, gold … The US economy reached a concerning milestone with inflation hitting 3,000 percent under the Federal…

  • Daniel Ghali, senior commodity strategist at TD Securities, said he wasn’t overly worried that silver’s bull trend is over.
  • Most private silver mints and companies, like the classic SilverTowne, have commemorative designs and have a weight of 1 troy ounce of silver, while there are some that are sterling silver.
  • In light of the stock market’s prolonged rally and the Federal Reserve’s monetary policies, silver’s role as a potential hedge and safe-haven asset has garnered attention.
  • Let’s reiterate that we are talking, here, about COMEX and COMEX alone.

“Today’s price action was mostly profit-taking and weak long liquidation from the shorter-term futures traders,” said Jim Wykoff, senior technical analyst at “However, strong follow-through selling pressure and a technically bearish weekly low close on Friday would begin to suggest a market top is in place. Bulls need to step up Friday.” (Kitco News) – A sharp selloff in silver has caught some investors off guard as the price is seeing solid selling pressure falling 5% on the day and dropping significantly below $25 an ounce. brings you all the latest live silver news, headlines, data analysis and information from the global silver markets. Keep up to date with the largest and fastest source of silver market news information.

Silver Prices Today, Live Spot Prices & Historical Charts

Although I think even with the amount of money that’s been printed out there, still lower than one might have expected, and we’ll see if we get a reversal in that one of these days coming up. For example, since January 2020, India’s silver jewelry manufacturing exports increased from $832 million to $1.7 billion dollars, a whopping 104% increase. Most of India’s jewelry exports go to Hong Kong and China, indicating that, in spite of the COVID-19 pandemic or because of it, demand for silver jewelry in the Middle Kingdom has dramatically increased. Perhaps, that is also true for the demand for silver in the form of bars of bullion, just like what is happening in the United States.

However, the largest and most influential market for metals prices is the U.S. The quote for immediate settlement or purchase at any given time is effectively the spot market price. From am to pm, the latest daily charts are important to make smart purchases from dealers who reply instantly.

Silver Price Update: Q2 2023 in Review

The stock market has seen a sustained upward trend, largely driven by Federal Reserve policies. However, concerns are rising about the potential for a significant market pullback if the Fed decides to tighten its monetary policies due to inflation and rising interest rates. This has prompted investors to explore alternative assets like silver, which tends to perform well during market turbulence and periods of inflation, primarily due to negative real interest rates.

Osisko Metals Announces New Pine Point Drill Results With Up to 28.0 Metres Grading 10.9% Zinc and 8.0% Lead

On the flip side, holdings in exchange-traded products (ETPs) and commodities trading experienced weakened demand last year. ETPs saw the largest outflows in over a decade, with combined holdings falling by 11 best chinese stocks percent year-on-year. Following a sharp pullback in 2021, 2022 saw further declines in trading on commodities exchanges, with the main CME contract’s annual turnover dropping to its lowest level since 2015.

At times he’s been even more bold, suggesting the white metal could reach US$1,000. While silver cooled off after that peak, it wasn’t a drastic fall, and the metal was able to test US$25 in July. Photovoltaic forex trading secrets silver offtake is set to achieve a new peak this year. The Russia-Ukraine war has accelerated the deployment of renewables as governments strive to lessen their reliance on fossil fuels.

Sell Gold & Silver

And maybe it takes until we run into more overt issues with the debt and the currencies out there. Because, like you point out, there’s a lot of money has been printed, yet so far, from a metal standpoint, it’s largely been ignored. And perhaps that’s what it takes in the end, you know, and usually people react. No one cared until it really became a problem and at least, at the moment, it’s seeming like that could be the path that we’re headed on with gold and silver. But yeah, I think that’s what’s been surprising for a lot of people in the metals world.

Global Demand

If a similar percentage of buyers demand delivery, a little less than 23,000 contracts, or over 3,500 metric tons of silver, will have to be delivered. No amount of price manipulation can conjure physical silver out of thin air. Back in June, private investor Don Hansen joined INN to share his strategies for investing in precious metals, as well as a guide for building a low-risk gold and silver portfolio. Many experts believe that silver is undervalued compared to fellow currency metal gold.

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And as you pointed out earlier, we had a lot of money printed back in 2020. Can you imagine the fireworks that will be on display in September as desperate short sellers run around the world, desperately trying to source silver bars, to somehow manage to deliver over 3,500 metric tons of the white metal on COMEX? It will be quite a sight to see, and may result in a dramatic increase in silver prices, given that the short sellers have already used up a great deal of the readily available supply this month… On April 30, 2020, the total open interest (the number of contract for future delivery of 5,000 ounces each) in COMEX silver futures (SI), maturing in July 2020, was 99,406. When those contracts matured on June 29th, if circumstances had been normal, we would have seen something like about 1% or less of the contract holders demanding delivery.

“We see this as a repositioning move in the U.S. dollar to reflect some profit taking from firms short the U.S. dollar,” he said. “A lot of this selloff in silver we are seeing is technical in nature.” Ghali Que es un sp500 added that a lot of the weakness in silver is the result of new momentum in the U.S. dollar; however, he said that he sees the U.S. dollar index’s push to 102 points as short-lived short covering.