It’s not Friday, but let’s take a look at silver. In eight calendar days silver’s value went from a closing value of $34.24 to today’s close of $37.42. That’s more than $3 in just over a week. Amazing and astounding.
Let’s look at the charts.
On March 15, the silver spot market dropped from the close on March 14 of $35.94 and varied throughout the day:
But, look at early in the day, the values dropped almost, but not quite, to $33.60 then rose again to close at $34.24 on the New York market and fell back to $34.05 on the after-market.
Now, let’s look at today’s silver spot performance:
If you look at March 15’s closing number compared to today’s, the difference is just over $3. But, if you look at the low point on March 15 compared to today’s New York close, the difference gets much closer to $4.
For many years, if silver moved a few cents, people got excited. Now, we’re experiencing frequent swings – upward and downward – of over a $1.
Just from yesterday to today, silver’s closing value increased by $1.04.
Based on historical performance, it’s astounding to watch the silver prices flucuate as they have been over the recent weeks. Sure, there will be fall backs when people take profit, but the trend continues upward.
Some pundits claim it will be $50 before the end of the year. Are they right? Who knows for sure.
There are so many variables in the economy, the political world and the global markets that can impact the metals, it’s difficult to know for sure what will happen.
Of course, many people continue to purchase silver (and gold) as a hedge against the projected inflation over the next months and years.
In the meantime, strap in, sit back and prepare for an interesting ride.