Spot Silver by 5 PM Today ??

[MikeGarcia]

..Anyone in bullion markets ? Why is silver headed for $30 today Wednesday , 16 May , 2024. ?? Should I unload all my old old Morgan silver dollars ?? Thanks , inquiring minds want to know.

..

[pawpawdiv9]

Here what i got just by googling it:

According to forex.com, silver is heading towards $30 due to rising geopolitical tensions, which are pushing gold towards $2,500. Some traders are using silver as a catch-up play. The gold-silver ratio has often settled near 78 in 2023. If demand for silver increases, the gold-silver ratio may move from 85 to 78, which would be within the normal range for the past few years. This could lead to the price of silver heading towards $30, even if the price of gold does not move higher.
Silver prices tend to track the performance of the overall stock market and the economy. During economic expansions, silver prices tend to rise along with GDP and markets, while during recessions silver prices generally fall as the economy slows. Geopolitical tensions tend to drive investors into safe-haven assets, including precious metals like gold and silver. New conflicts or escalations of existing ones could lead to an increase in silver prices.
Silver has topped at $30 in the last few years. If and when silver breaks and holds above $30, this could potentially pave the way for a run towards its 2011 record high near $50

[steve B]

Geopolitical tensions almost always make metals go up.
One of my papers for economics outlined causes of metals fluctuation, and what was essentially arbitrage using the coin market which in the mid 80's lagged spot prices both up and down, giving a short window where you "knew" the future price.

The prof didn't understand it, figured it was too short for an A but involved enough that it couldn't be a C so gave me a B.

The internet giving access to more up to date prices and enabling near instant purchases and sales has ended that.

[MikeGarcia]

. Okay , I'm considering unloading the Morgans ( no numismatic value ) and the 1922 Peace piles. $32 is more than fair , I reckon.

..

[td658678]

With the look of things to forex.com, silver is heading towards $30 due to rising geopolitical tensions, which are pushing gold towards $2,500.Silver prices tend to track the performance of the overall stock market and the economy.