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Silver and gold both closed the week slightly higher.
The silver spot price is in the mid 25 per troy ounce range.
The gold spot price sold off a bit to close today's trading but finished well above the psychologically important 1800 level by a decent margin.
The gold-silver ratio rose intra-week but broke down back to 71.
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A high-quality Silver derivative vs physical bullion infographic was released this past week by the sharp research team of Singapore's Bullionstar: https://www.bullionstar.com/blogs/bullionstar/infographic-paper-silver-vs-physical-silver
Note for the year 2020, over 234 billion paper derivative ounces of silver were traded between the London and NY COMEX markets. That is over 240Xs the amount of physical silver that got mined for that same year.
Here is how that ridiculous level of leverage broke out between the two suppressive price discovery systems based on the reported undying ounces which I showed you, is often double-counted between the two organizations.
Now here is how this level of leverage works in terms of keeping silver prices in a polite range for the vast majority of the last 50 years of time.
This is the price of silver aggregated inside NY COMEX trading hours, the black colored line. Beginning in 1970 with a price point at $1.92, the rolling intra-NY COMEX silver futures price has dwindled down to a mere 21¢ oz over the last near 51 years of time rolling.
The red spot price line shows the silver spot price dip we saw in the middle of this past week when silver dipped below 25 per ounce.
The blue line is aggregate silver price data traded outside NY COMEX trading hours, nearly $230 per ounce now.
Here in the year 2021, and since the year 2011, we have been in the fifth era when the blue and red lines have diverged.
Each of the prior four times in which these lines re-converged, it happened with a rapidly escalating silver spot price and value.
This next, this fifth convergence of these two lines should become the all-timer for silver.
Thanks for watching and as always take great care of yourselves, and those you love.
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