- Today’s LBMA silver price was USD 19.86 per ounce.
- Yesterday’s LBMA silver fix was USD 19.86 per ounce.
- Gold and silver remained in lockdown today and yesterday - gold rose a tiny $1.40 yesterday to $1,313.00/oz and silver a marginal 8 cents to $19.92/oz.
Overnight, silver and gold in Singapore were flat as they were in London prior and after the new ‘LBMA silver price’. Futures trading volume has picked up and was about average for the past 100 days this morning. Gold and silver remain in very tight ranges which usually precedes a sharp move higher or lower. Given the poor economic data recently and geopolitical backdrop we expect gold and silver to break higher in the coming days as we enter the seasonal sweet spot for gold and silver.
Silver for immediate delivery was flat at to $19.90 an ounce. Spot platinum fee 0.3% to $1,466 an ounce, while palladium moved 0.4% higher to $888 an ounce - closer to multi year nominal highs.
Geopolitical risk continues to support gold and silver at these levels. Macroeconomic risk was shown in the poor European growth data yesterday with the German and French economies still having severe difficulties.
Silver in US Dollars (1970 to Today) - LBMA