Silver Prices News. Silver and Gold Investing prices whipped sharply in London trade Tuesday morning. Silver prices, up more than 4% for the year, extended their monster rally, adding 57 cents to settle at $32.86 an ounce, setting another 30-year record. In unofficial trading Monday, it hit a high of $34.33. Problems in the Middle East are leading to a rise in Silver Prices.
“Silver and gold prices popped Tuesday as violence and political unrest spread throughout the Middle East, infecting Libya and pushing gold past $1,400 and silver to 30-year highs,” wrote an online news.
David Jollie at Mitsui in London said, "But Silver Investing is suffering "irrational exuberance". He's quoting a phrase used by former Fed chairman Alan Greenspan to describe the early stages of the DotCom Bubble in the mid-1990s.
The Silver Price shows "some disconnect from the Gold Price," says Jollie, noting that the ratio of gold to silver prices has fallen to its lowest level since the 1980s at 42:1.
Standard Bank in its daily gold and silver note said, "Geopolitical tensions in the MENA region continue to fester. Keeping risk aversion elevated and enhancing the appeal of safe-haven assets.
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