Silver Price $331 Outside COMEX Trading Hours?

Silver price outside COMEX hours $331.59 oz in fiat USD from January 1st, 1970, to April 13th, 2023 (yea, that sky-high stated figure is through yesterday's aggregated price discovery data).

Not so much to pull a silly lofty silver nominal price figure out of thin air, no, but to instead explicitly cite what the damning +53-year running silver price data shows to date. 

We'll nerd out on that chart and a few related others before ending today's video.

What are we talking about here?

We’re talking about a multi-decade systemic value-suppressed precious metal with incredible industrial utility and monetary store of value branding.

Let me remind anyone who dares to look or cares to do the due diligence that sub-$50 oz silver bullion remains relatively cheap historically. 

Name me any other supply-constrained commodity we must have to function in the 21st Century that is still nearly half its nominal fiat US dollar price high at the moment (you can’t - in early 1980 and 2011, silver ran to $50 oz).

Now bear with me as we run through some silver and gold-focused mainstream financial media clips around the world from the past week. It is always worth noting what the ‘normie’ crowd sees and hears on their tell-a-visions.

Silver and gold fiat US dollar spot price markets traded mostly up for the week with a bit of a selloff to close today, Friday, April 14th, 2023.

The price of silver in fiat Fed notes terms closed safely above $25 per troy ounce while briefly clearing $26 oz intra-week. The $26 oz price is, to me, a key psychological long-term level with only relatively brief durations during this full fiat era when silver sprang above that threshold. We are super close yet again.

Back to this week's past 5-day trading chart.

The price of gold in fiat Fed note terms ramped and threatened the now nominal price high of roughly $2,070 oz but backed off and sold off to close the week safely above the key $2,000 oz price consolidation line.

The spot gold-silver ratio keeps falling slowly, closing at 79 in spot price gold divided by spot price silver division.

Reminder to you all out there, I had the privilege of being on Palisades Gold Radio recorded this past Monday, April 10th, 2023. There is a link to that 47-minute interview here if you missed it.

As promised to start this week's SD Bullion Market Update, we're going to finish with a few important full fiat currency era charts 1970-2023 western vs. eastern world silver price discovery data focused.

On the current persistent leveraged western derivative hologram, that is, the globally quoted spot fiat US dollar silver price to date.

This chart starts January 1st, 1970, with a silver price of $1.92 and a 1/2¢ per troy ounce of silver, and it aggregates or adds up all the net gain or loss of COMEX futures market silver price trading data over the last more than 53 years.

Basically, all the spikes upwards were bullish eras for silver spot prices, but in total, the COMEX silver futures price has added up to trade downwards over this entire era to now 15¢ oz aggregated.

The LBMA / COMEX silver futures market has for decades been a leveraged derivative cesspool slanted so the short side could win trading bonuses generally.

But there are times and eras when those caught short silver get their faces ripped off, and many end in bankruptcy and or bailouts. 

My strong suggestion is we are gearing up for another of those upcoming frenetic leveraged long-side winner cycles.

The next chart in our video update is how this stupefying full silver COMEX era chart looks when you leave it next to the ongoing red silver spot price line over the last +53 years.

Yea... but wait, it gets crazier when we look outside COMEX silver futures trading hours.

Next chart, we add on top the blue line here, which is the silver price's trading action outside COMEX silver futures trading hours, basically the eastern world's silver buying price action.

You can easily see that once Covid 2020 came along with ∞fiat QE∞ policies globally, the eastern silver price action ran up a wall to the tune of now over $331 oz of aggregated data the last more than 53 years running.

Now with this final logarithmic price chart that makes the movements on a percentage basis and not a nominal basis, we bring it all home.

The red line again is the global fiat US dollar quoted silver spot price ongoing.

The black line is the persistently short-rigged COMEX silver spot price which I note is turning flat of late, a bullish sign in my eyes.

And finally, the blue eastern world silver spot price aggregated data running beyond now $330 oz.

I maintain we are heading for the 5th era when the red spot price line has a meeting again with the blue eastern price line. When, how, and what nominal price they collide again is impossible to say.

What I can say is that in real value terms, when that comes to pass. Silver, in future real valuation levels, is going to buy a hell of a lot more in asset classes and real goods/services than it does today.

That is all for this week's SD Bullion Market update.

As always, to you out there. Take great care of yourselves and those you love.

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James Anderson
James Anderson
Senior Market Analyst & Content

A bullion buyer years before the 2008 Global Financial Crisis, James Anderson is a grounded precious metals researcher, content creator, and physical investment grade bullion professional. He has authored several Gold & Silver Guides and has been featured on the History Channel, Zero Hedge, Gold-Eagle, Silver Seek, Value Walk and many more. You can pick up Jame's most recent, comprehensive 200+ Page book here at SD Bullion.

Given that repressed commodity values are now near 100-year low level valuations versus large US stocks, James remains convinced investors and savers should buy and maintain a prudent physical bullion position now, before more unfunded promises debase away in the coming decades...