Actual newly mined silver is around 1 Billion Troy Oz a Year, Paper contracts are over 400 B Troy Oz.
So an essentially 30 B business becomes well over a 1 T business on paper. Look for the paper trading to go away and silver to find a more stable value.
Commodity futures market.
https://www.investing.com/commodities/real-time-futures
Dealers use the bid price,witch is lower.
Yes, many use the bid price to buy and the ask price to sell... And most of them have different spot bid and ask prices than the other dealers. Right now SD Bullion has gold spot at 2639.98, JM 2641.12, APMEX 2645.30, KItco. 2629.00
I have heard the Hong Kong precious metals has no paper trading for invisible metal. Awhile back you could sell at a higher price there than in the USA, but I'm not sure about now.
Some also delay the price.
Yes, spot price is manipulated, but its what we have for now. I'm hoping that whatever the plan is will remove most of the manipulation if not all. Gold is popular and pretty, but silver is a lot more useful. So I'm hoping my modest stack will at least retain buying power as it has done most of history.
Agree. I've been stacking for 4 years. I consider it a good hedge against a full meltdown. I'm probably about 1 doller ahead or dead even now.