How does BNN Bloomberg calculate silver prices?

For the U.S. price for silver, BNN Bloomberg uses the front-month futures contract price for a troy ounce of silver on the COMEX division of the New York Mercantile Exchange. For the Canadian price for Silver, BNN Bloomberg converts the spot price for silver into Canadian dollars.

Is silver still cheap?

Yet in relative terms, silver is still cheap. It currently takes about 80 ounces of silver to buy 1 ounce of gold, compared with the 20-year average of 68. Spot silver rose as much as 3.3% to $30.55 an ounce as of 9:21 a.m. New York time on Friday, its highest since February 2013. Gold prices were up as much as 1.2% to $2,405.18.

What is the average price of silver in 2022?

The bank now sees the average price at $22.25 an ounce for 2022 and at $23.50 for 2023. UBS Group AG expects silver to trade lower to $19 by early 2023. Spot silver was trading at $20.51 an ounce at 1:39 p.m. in New York, after bouncing back from a two-year low in mid-July.