Is Silver Ready To Hit $50 - 1/29/2026: Will It Hit $130? - Previous Milestones In First Post

Well, things were pretty grim overnight, but it looks like things are bouncing back a bit in the pre-market hours. Just hit the ~$65 zone briefly before dropping back a bit to the ~$64 zone.

Silver, not silver "futures" (whatever the heck those are).

Always check the COMEX Silver and Gold CME website when quoting spot prices because the metals dealers premiums as well as their Bid and Ask prices vary so much. That's almost like using my LCS as a guide to what Silver is going for.

Even though COMEX might still quote the back month instead of the front month, it's still closer to what the actual price of 1,000 ounce bars are trading for on the market at this exact moment.

So for example on COMEX Silver just fell below $65 to $64.99 around 11:15 am after spending all morning over $65 and hitting a high of $65.82 that's almost exactly what the December futures were trading at.

Just saying

Silver futures are standardized, legally binding contracts to buy or sell a specific quantity of physical silver at an agreed-upon price on a set date in the future. Typically in 1,000 ounce bar format.

I'll make it easier for you to understand. In other words it's what set's the value of what you think your stack is worth today. It's what drops the price and makes you sigh and what jumps overnight and makes you dance with joy. It isn't the "night crew", it isn't magic, it's trading on the "silver futures" market.

It's what your dealer uses (plus or minus his premium) to Buy or Sell you said Silver, and Gold, yes there is a Gold futures market too, and an Oil futures market, and a coffee futures market and a sugar futures market and yes everything you buy has a futures market.

It's how the big boy's that need thousands of ounces of silver every month (for whatever reason) or that produce thousands of ounces of silver, lock in Silver at a certain price for delivery to or from the COMEX vaults for next month. Or how investors hedge or gamble, or whatever.

We have the Internet and AI so there's really no excuse.

Ahhh yes, the 1983 classic "Trading Places" with Eddie Murphy and Dan Aykroyd. Love it.

It's exactly what comes to mind whenever I have to explain how trading commodities and "futures" work and how they set the price for just about everything we buy and consume.

And if we just go to COMEXLIVE.ORG we could see the futures price on just about everything from Gold to Copper to Silver Coffee to Gasoline to Sugar to Wheat to Corn to whatever and even see the charts to see if they're going up or down, amazing

It's Sunday again, about 40 minutes into the start of trading across the 'futures markets' and 'Commodities Exchanges'.

On 'COMEX' Silver is currently $64.55 slightly lower from the $64.78 it opened at when trading started for the week.