Silver At $24.17/toz Spot Price

Above, 2023 Britannia coins from the Royal Mint. Photo by Armand Vaquer.

Not since early February has silver's spot price closed over $24/toz.

Last Friday, silver closed at $24.17/toz (according to Monex). Will the spot price go higher or lower? That, of course, is anyone's guess. But the turmoil with the banking industry has aided silver.

People who bought silver while the spot price was down stand to make some money if they sell. As for me, I am sitting tight. I did make another purchase on Friday. 

Gold, on the other hand, has flirted going over $2,000/toz, but each time it was about to cross that threshold, it falls back. It is almost as if it is resisting going over $2,000. It closed at $1,976/toz on Friday, according to Monex. For the average person, gold is too expensive to buy. Silver is much more affordable.

What happens with gold and silver this coming week will be interesting to watch.