Not even 48 hours after Donald Trump’s historic victory over Vice President Kamala Harris and a pretty swift downturn for gold and silver, today’s market is shifting back up from yesterday’s overcorrection. Silver hovered around $31 from Wednesday evening into Thursday morning and since 6:40 AM, spot price has shot up to $31.80. There have been a couple 20 cent jumps at 8:30 AM and 9:15 AM and fallen back slightly after each one, so it is likely that silver will hold around here and perhaps drop down closer to $3.50 throughout the day.
Gold’s meteoric rise this year has seen some big jumps on a given day and held for even bigger jumps weeks later, so yesterday’s drop of around $80 was a welcome in for those who are more recently trying to capitalize on the lessened demand. Today’s correction has jumped back up about $35 and seems to be creeping higher from there, jumping over and dipping back under $2700 and staying consistent with this year’s trends of leading silver in big spot price jumps and maintaining growth as silver stagnates with much smaller returns.
Despite some market confidence in Donald Trump’s incoming return to the White House, the value of gold and silver rounds still should not be underestimated. As this transitionary phase for the United States will continue the uncertain times where precious metals like gold and silver have seen major leaps, one can only guess if our president-elect can combat such jumps with the stability and peace through strength he’s promised in this 2024 campaign.
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