Kim Kardashian: Silver Price Rise Vs Gold Price Rise

Silver Price Rise Vs Gold Price Rise

The price of gold increased today more than $6 per ounce to a price of just over $1480 per ounce. The sharp uptick in gold price is having the opposite effect on the price of silver. Silver price fell by another 2 percent on top of other recent drops to just under $34 peer ounce.

The rise in the price of gold came as good news after the big dip in gold price yesterday when it fell by $42.42 down to $1474.04. This was one of the worst drops for gold since last November amid a very volitile day for commodities.

Silver Price Rise Vs Gold Price Rise 1

The drop in silver price was much more substantial for investors as it represents nearly a 12% loss in price. The drop thursday was in fact the largest drop for a single day since October of 2008. For the week the price of silver has fallen off about 27% or $13.16, representing the worst perfromance for the metal since 1980.

For some investors, however, as gold continues toward a forcast plateau around $2000 per ounce, the recent drop in silver may represent a good opportunity to get in on silver. Analysts expect that once gold reaches its top end, the price of silver will continue its climb. Recent reports expect to see silver up to $150 per ounce before the end of the year, despite its recent fall.

Silver Price Rise Vs Gold Price Rise 2

A cascading crash in commodities beginning with silver a week ago spread to oil and copper as exchanges took steps to rein in speculation, economic data pointed to a global selloff and big name investors took profits.

Silver was the first to crack five trading days ago and is now down more than 27 percent since its high last Friday, including a 10 percent drop today alone. The silver panic forced traders to sell other hard assets to raise cash, with the selling spreading to oil and copper over the course of the last two days.

Oil fell below $100 Thursday, more than 13 percent from its high on May 2. Copper plunged more than 3 percent, extending losses from its high five days ago to greater than 7 percent. Selling in silver intensified this afternoon into the end of open outcry trading as traders borrowing on margin got a tap on the shoulder to pay up under the new CME requirements. Of all the declines, it was the participation of copper in the bloodbath that worried investors most.

Silver Price Rise Vs Gold Price Rise 3

“I think of copper as a better indicator of economic activity than some of the other commodities,” said Karen Finerman, president of hedge fund Metropolitan Capital Advisors and a ‘Fast Money’ trader. “For example, oil can move on unrest in the Middle East and gold and silver can move more easily on speculation and some of these margin requirements.”

The CME has hiked silver margin requirements five times this month. The moves helped push silver down from within $1 of its highest price ever. Selling intensified this week after the Wall Street Journal reported that big investors like George Soros were taking profits in the metal. Yesterday, it was revealed that Carlos Slim, the richest person in the world, had begun to sell the metal.

Silver Price Rise Vs Gold Price Rise5

Commodity prices have staged a partial recovery in Asian trade after markets were hammered by one of the biggest sell-offs in two years.

In the last few hours of trade in New York on Thursday, commodity prices tumbled on poor economic data from the US and Europe.

Oil dropped a record $12, while gold, silver and copper prices fell as well.

Silver Price Rise Vs Gold Price Rise 6

But commodities have gained back some of their losses as Asia buyers were attracted by the cheaper prices.

Brent crude was up by more than 1% at $111.90 a barrel, and US light crude crept back over the $100 a barrel price.

It had fallen the day before by $9.44 to $99.80 on fears about the strength of the US economy.

Meanwhile, silver rebounded by 2.5% to $35.54 an ounce on Friday after its biggest one-day dollar price drop since 1980 the day before.

"Prices are up but this is not unusual after a massive sell-off, we are observing some market participants considering this as a buying opportunity," he said.

But analysts warn the volatility in the markets could remain.

" When you have this kind of damage, it will take several weeks, or maybe several months, for people to be taken out, and for confidence to be rebuilt," said Dennis Gartman, author of a markets guide.

"It's not the end of the commodities cycle, not even close. You still have to call this a correction. It's a sizable one and scared the heck out of everybody."

Silver Price Per Ounce

Silver Price Per Ounce in Australian Dollars	Silver Price Per Ounce in Canadian Dollars
Silver Price Per Ounce in Swiss Francs	Silver Price Per Ounce in Japanese Yen
Silver Price Per Ounce in Pounds