Global financial market participants are now speaking by collective record-sized gold silver investment actions.
The move to physical bullion and also into the less secure, fractionally bullion-backed derivative complex is now making monetary precious metals spot prices ramp higher.
Silver's technicals are off the charts, but just like with gold, the fundamentals seem to be the dominant market forces.
Additionally, while gold has exceeded and put in new all-time highs, silver is still a country mile from its own all-time highs, and the fundamentals could keep on providing fuel to silver's fire.
Give all the major precious metals market news of late, this will be the first of a two-part Market Update for this final week of late July 2020.
We have some record-breaking data insights to cover later in this video.
Of all the bullish bullion headlines this past week (e.g. record precious metal ETF fund flows, bullion shortage premium gap outs, and price action, etc.).
Perhaps one of the more important headlines and articles was published by a former long time Financial Times, now Bloomberg columnist, John Authers.
Gold has surged to new all-time highs, and silver is consolidating, at twenty-five bucks!
Gold has basically launched off of $1800, and the yellow metal hasn't looked back.
Silver and gold both finished this past week’s trading well.
Each having tremendous runs since their brief spot price crashes in mid-March 2020 much assisted by ongoing fiat ∞QE policies running rampant.
The silver price is surging!
And since the silver price is surging, today, I'd like to make this Midweek Market Report silver-centric, meaning that I will discuss each and every chart as it pertains to silver, and I also have many different timeframes of the silver charts to share.
The recent V-shaped recovery for spot silver price and COMEX silver futures prices is now near completion.
The silver spot price now threatens to again pass $20 an ounce next week, now is a good time to remind ourselves about the last time we saw the spot silver prices crash and then rebound with simultaneous retail and whole silver bullion shortage.
All 10¢ dimes issued in 1964 and years prior have 2.5 grams or almost 1/10th an ounce of pure silver in each coin. Although today's circulating dimes have a ‘silvery’ polish, they don’t contain any pure silver at all. The US Mint currently uses low-value pot metal alloys to strike all US dimes today.
All half dollars issued in 1964 and years prior had 11.4 grams or almost 2/5th an ounce of silver in each.
To calculate how much a silver half dollar melt value is, use the following equation and data inputs...
