The silver market has been plagued by scandals, such as the case of JPMorgan Chase, where rigging has been a common occurrence. Despite being fined millions of dollars by the CFTC multiple times, these institutions continue to engage in such activities due to the profitability it brings. This has led to a stagnant price of around $26 to $26.50 for silver, making it difficult for investors to see significant gains.
However, there are still opportunities to make money in the silver market by taking advantage of short-term pullbacks. On a longer-term perspective, gold may be a more attractive option compared to silver due to its stability and less volatile nature. Silver, being an industrial metal, tends to be influenced by economic factors and can behave unpredictably at times.
Currently, silver is moving in tandem with gold as it reacts to lower interest rates and the possibility of increased demand later in the year. Despite these factors, breaking past the $26 mark has proven to be a challenge. It will be interesting to see how the silver market evolves in the coming months.
In order to stay updated on economic events that may impact the silver market, it is important to regularly check the economic calendar for relevant information.