Over the weekend, those investors targeted the silver market, and they were largely successful in pushing prices higher. Yet the gains that investors are seeing from these silver-squeeze candidates aren't nearly as large as the moves in GameStop and other stocks were.
Silver had a solid rally on Monday. That was its highest level in six months, but it was considerably below the eight-year high that the white metal had seen overnight before New York markets opened for trading. Investors also saw solid gains in silver-related stocks. Silver mining stocks were where most of the biggest gains were found. Yet even those larger moves among silver stocks didn't match up to the massive gains that GameStop saw last week. Fivefold gains don't appear to be in the cards for these silver-squeeze candidates, at least not immediately.
Successful investors often find that it's difficult to duplicate winning performance a second time. It's understandable that a big win on GameStop has emboldened individual investors, but they'll have to keep to the same playbook to avoid making mistakes in the future. The silver market does have some appeal from a structural standpoint, as trading activity in the silver market dwarfs the actual production of the semi-precious metal.
Silver market commentators have warned of supply-deficit conditions for a long time, which would potentially make it more vulnerable to such efforts. Okay to continue Our website uses cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your personal cookie settings through your internet browser settings.
Commodities , Forecast. Bookmark Follow. While silver mostly quoted in ounces per U. Silver and most precious metals prices are quoted in troy ounces; however, countries that have adopted the metric system price gold in grams, kilograms and tonnes.
Though not as popular as kilograms and grams, Tael is a weight measurement in China. The tola is a weight measurement in South Asia. A troy ounce is used specifically in the weighing and pricing of precious metals and its use dates back to the Roman Empire when currencies were valued in weight. The process was carried over to the British Empire where one pound sterling was worth one troy pound of silver.
The U. Mint adopted the troy ounce system in An imperial ounce equals While you can buy silver in any currency in the world, it is important to realize that ultimately everything is based on the value of the U. Given that the U. Reserve currencies are used to settle international transactions.
Since the start of the 20th century, the U. The reason gold and silver prices vary widely boils down to one simple fact: rarity. The less supply there is of a metal, the higher the price.
Therefore, gold prices tend to be much higher than silver prices because it is much harder to get. The reason supply is much larger for silver is because it is an easier metal to mine and it is often mined as a by-product to other metals mining. The average occurrence of gold in igneous rock is 0. Silver shows up at a rate of 0. The gold-to-silver ratio shows you how many ounces of silver it would take to buy an ounce of gold. If the ratio is at 60 to 1, this means it would take 60 ounces of silver to buy one ounce of gold.
Investors use the ratio to determine whether one of the metals is under or overvalued and thus if it is a good time to buy or sell a particular metal. When the ratio is high, it is widely thought that silver is the favored metal. When the ratio is low, the opposite is true and usually signals it is a good time to buy gold. Silver mining refers to the process of mining silver from the ground.
Silver is commonly extracted from ore by smelting or chemical leaching. The main sources of silver are copper, copper-nickel, gold, lead and lead-zinc ores mined in Canada, Mexico, Poland, Peru, Bolivia, Australia and the US. The overall slowdown in mine production last year is expected to continue. Based in London, the London Bullion Market Association LBMA is an international trade association, which represents the precious metals markets including gold, silver, platinum and palladium.
It is not an exchange. Its current members include companies made up of refiners, fabricator, traders, etc. For the refining industry, the LBMA is also responsible for publishing the Good Delivery List, which is widely recognized as the benchmark standard for the quality of gold and silver bars around the world. The ETF was first launched in April However, silver is highly correlated to gold, which is also correlated to interest rates so there is an indirect impact on silver.
In simplest terms, interest rates represent the cost of borrowing money. Silver Price forecast on Friday, November, price Silver Price forecast on Monday, November, price Silver Price forecast on Tuesday, November, price Silver Price forecast on Wednesday, November, price In 2 weeks Silver Price forecast on Thursday, November, price Silver Price forecast on Wednesday, December, 1: price In 3 weeks Silver Price forecast on Thursday, December, 2: price Silver Price forecast on Friday, December, 3: price Silver Price forecast on Monday, December, 6: price Silver Price forecast on Tuesday, December, 7: price
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