The spot price for silver at COMEX is around $38.00/toz. The spot price for gold is currently at $3,449.70.
For the average person, investing in silver vs. gold is a lot more affordable even at today's silver spot price.
Recently, I took a vacation trip to South Dakota and explored around the Black Hills. I had been there before, in 1990. With that in mind, I was looking forward to seeing if there were any bargains on Black Hills gold. Well, as it happened, in the shops in Deadwood, I only found one that was selling Black Hills gold jewelry. I didn't see any bargains there, needless to say.
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| Above, Deadwood, South Dakota. I only found one shop selling Black Hills gold there. Photo by Armand Vaquer. |
Back in 1990, quite a number of shops in Deadwood were selling Black Hills gold jewelry. They could afford to do so since gold in 1990 was around $386.20/toz. (Source: OnlyGold.com). At today's prices, gold is too expensive for the average mom & pop shop owner to afford.
Where both gold and silver goes from here is anyone's guess.
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