Dec. 24 at 10:18 AM
$GORO The deeply negative 1-year silver swap minus US rates shows acute physical silver stress. Buyers are paying a premium for immediate delivery, which keeps upward pressure on price. This imbalance typically resolves through higher spot prices, not time.
A realistic price level where supply and demand could begin to normalize is around
$75/oz. Below this, physical tightness likely persists; near this level, higher prices can unlock supply, reduce demand, and pull the spread back toward balance.