Silver Price Analysis
Silver prices have traded in a tight range due to mounting inflation and aggressive interest rate policy. Silver was up 0.8% on the week as benchmark yields rose several basis points. Support is seen near the near $23.6 level. While resistance is near the $26.00 level.
Silver Chart
Portfolio Update
My current assets are valued at $1,541.95 with a total acquisition cost of $1,476.59 representing a 4.42% gain. I don't have new buys as premiums are still high and there is some negative pressure on silver prices. If we get a decent dip of 2-3% I'll take a look at buying some larger bars which carry lower premiums. For now I'm cautious and I'm not in a rush to buy. Precious metals is a long term game.
Asset Allocation Chart
Asset Holding by Product
Thanks again for keeping us informed with the updates, @cryptictruth. I heard the LBMA, is coming up short of physical Gold, because of Russian physical supplying issues. And could spill over into physical Silver Market.
We might see supplies dry up a bit and if paper silver needs to get filed physical might get a nice little boost because of the war. I hate the PMs go up when there is war because that means we profit form people struggling.
Silver prices are slightly up. But still the premium for silver coins are atrocious. The 1 oz Buffalo Silver Round costs $48, perhaps that was a very high premium. But the average for coins is at least 45-95% over spot !
Good lord! You might want to check out Ampex https://www.apmex.com/product/44447/1-oz-silver-round-buffalo
I will do. I saw price on Amazon. They always expensive, thanks for that !
Smart move holding off, stack the cash and have it ready to go when the premiums get a little better.
I have a price target in mind. If we hold these levels for a few weeks I'll buy, but I think we are going to dip which will be the trigger for me to buy.