On the world spot market this evening, silver jumped .84 to open at $47.47. As world spot markets open, and silver rises nearly a dollar at the start of Asain trading, the effects of China's new monetary policies are already creating consequences well before the start of US trading. That makes many investors want to know more about this silver spot news today.
News of this weekends change in monetary policy by the Chinese central bank is pushing precious metals, particularly silver and gold, higher at the open as the Asian pre-market trading begins on Monday, April 25th. Silver closed at $46.63 on Friday afternoon, up more than $1.35 for the day.
Many investors and central banks move to metals for wealth protection, and not government bonds because the continuing pressure on the devaluing dollar. Last week, gold reached a new high of $1510 an ounce, while silver continued to achieve new 30-year highs. That was an amazing achievement.
So, we know that the all-time high for silver is just a shade over $50. Yes, it is quite possible that this level could be reached within a few days. Keep on eye for update info about silver prices on the world spot market!
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