Silver Holds Mid-Seventies After Wild Week While Year-Long Bull Run Powers On
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This is your Silver podcast.
Welcome back to Daily Silver Price Tracker, I am Vanessa Clark.
Let us talk about what is happening with silver right now.
As of early morning trading, major precious metals sites like Kitco and SD Bullion are showing silver hovering in the mid to upper seventy dollar range per ounce, with quotes clustered around about seventy six dollars. Prices move minute by minute, but that gives you a solid ballpark for the current silver spot price.
Looking at the very short term, SD Bullion reports that silver is slightly positive over the last day, but still down sharply over the past week after that big drop from around ninety dollars to the mid seventies that many traders have been watching. Over the past six months and year, though, silver is still massively higher, with gains well over one hundred percent compared with last year. So despite recent volatility, the longer term trend remains strongly up.
According to SD Bullion and recent market commentary, the rally in silver over the past year has been driven by three big forces. First, persistent supply deficits, as mining output struggles to keep up. Second, explosive industrial demand from solar panels, electronics, and new technologies. And third, safe haven buying as investors react to geopolitical tensions and worries about inflation and currency weakness.
At the same time, silver trades almost twenty four hours a day on global exchanges like COMEX, and the price you see is the spot price for one troy ounce of pure silver. Dealers then add a premium when you buy physical coins, rounds, or bars, so always compare the dealer price to the live spot price before you pull the trigger.
Your quick takeaway today. Silver is currently trading around the mid seventy dollar level per ounce, still very volatile in the short term, but supported by tight supply and strong industrial and investment demand. If you are tracking silver for investing, focus on both the live spot price and the longer term trend, not just the daily swings.
Thanks for listening to Daily Silver Price Tracker with Vanessa Clark. Be sure to subscribe, and tune in next time for your latest silver price update.
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