Joe Levi:
a cross-discipline, multi-dimensional problem solver who thinks outside the box – but within reality™

Silver jumps 76 cents, closes at $38.53

This time last year I was posting updates about the closing prices of Silver almost daily. A lot of you got tired of the practice, so I stopped…

Today I think it’s worth mentioning again.

Generally, the start of the week sees a dip in prices, and the rest of the week posts gains. That’s just sorta how things work. This type of pattern usually is explained by people putting in sell orders over the weekend that are filled on Monday, which drives the price down. The following days generally see that initial dip bought back by the end of the week.

Of course, that’s over-simplifying, and it doesn’t happen that way all the time. But it’s interesting not only to see a jump in prices on a Monday, but a HUGE jump! 76 cents is a substantial amount when looking at something valued at $38/ounce!

If you own 1,000 ounce silver bars, today’s movement would have netted you $760 per bar.

Today Change Week Ago Month Ago Year Ago
Gold $1,433.10 +$4.00 $1,421.90 $1,428.50 $1,124.40
Silver $38.53 +$0.76 $37.14 $35.44 $17.91
Platinum $1,784.50 +$9.50 $1,750.40 $1,840.60 $1,668.70
Palladium $782.60 +$9.05 $748.20 $812.85 $491.35

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