Silver Price shenanigans
Rock, paper, scissors
Silver dropped from around $120 USD to $77 an oz or so on Friday trade, pushing it back to December prices. But Shanghai is saying that it is $130.45* $114.94 whereas the Western countries are saying that it is $85 or so right now (I have checked the Shanghai price here - it’s in kgs). The difference between Shanghai and Western silver market price has often been between $7 & $13 USD over the last month but $45 $30 is way out of that range.
London & Chicago/NY are known for their paper prices of silver (ie ETFs) which is not physical silver. Whereas Shanghai is known for its physical price.
The Perth Mint has stopped sales for the weekend again as they have been doing a bit lately (as Mondays have become unpredicatable)
This Monday is going to be very interesting. I’m expecting a rapid climb back up to who knows where. This is not financial advice.
* wrong calculation, not sure why. Probably an LLM masquerading as an online calculator.
The utterly rigged (and controlled) central bank$ter market play ground weirdness.
Might be a Manic Monday.
Scared to wear any jewellery.
Oh, pearls are not volatile, yet.