The spot price for silver has been in the doldrums for the past several weeks. It was in the $22.00/toz range last week. This was enticing enough for me to buy some 2024 American Silver Eagles.
However, silver has gone up 1.65% (at this writing) today. It is now at $23.250/toz.
Much of the increase in silver's spot price (and gold's) is attributed to the recent drone attack in Jordan that killed three U.S. servicemen.
According to Kitco News:
(Kitco News) - Gold and silver prices are mildly higher in midday U.S. trading Monday, but down from daily highs, on some safe-haven buying after a terrorist strike in Jordan killed three U.S. soldiers. February gold was last up $6.90 at $2,024.00. March silver was last up $0.248 at $23.12.
Risk aversion is keener to start the trading week after an Iran-backed Houthi drone strike against U.S. troops in Jordan killed three U.S. soldiers. President Biden said the U.S. would respond.
Will it go even higher or fall back down? We shall see.
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