I regularly check up Kitco’s silver price page. Today, silver price was $19.78/oz. It very well could be that tomorrow it’ll go over the $20 mark. It’s… pure insanity. I started jewelry making back when the price was measly $4+/oz, and that was only 6 years ago.
At this price, $14/oz is suddenly looking OK. I do hope that the market calms down after a while. Luckily, I don’t have any urgent need for restocking silver at the moment, but I will be running out in a couple months for sure. The only regret I have is that I cannot take advantage of the ever growing silver scrap pile of mine — it’s at over 20 oz at this point — which surely will be lucrative to sell. If I were in the US, I’d be cashing this in with grim satisfaction. In Korea, cashing scrap silver is more complicated, as refineries will not accept bits of silver wire. Well, my parents’ stash of silver spoon and chopstick sets is looking awfully tempting now. :-)

This is the bid graph for today. Ouch!