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Weekly Survey of Gold and Silver Prices
Single Ounce Silver Market Price Benchmark
Money Daily has been providing business and financial market news, views, and coverage on a nearly continuous basis since 2006. Complete archives are available at moneydaily.blogspot.com.
PRIOR COVERAGE:
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WEEKEND WRAP: Lies and Consequences Sunday, February 8, 2026, 11:44 am ET
Even with the limited, heavily-redacted release of the Epstein Files, it's now become crystal clear that the world is dealing with the deepest institutional corruption the world has ever known, encompassing high levels of government, banking and commerce, the primary focal points the United States, European Union, and nations of the British Commonwealth. Adherence to post-World War II economic, political, and military policies has encumbered most of the Western nations with excessive debt, spreading poverty, lowered standards of living, extreme wealth inequality, elevated levels of censorship, perpetual military conflicts, corporate oligarchies, a tiered legal system, lawfare, and a complete repudiation of the rule of law by an elite control bureaucracy, compromised elected and high-ranking officials, business leaders and media complex. Guided by an Orwellian propaganda narrative, the general populations of Western countries are blind to the truth, shielded from the sheer scope of power and rapacious public policies that have brought the West to the brink of self-destruction. Control mechanisms deeply embedded in finance, law, and societal norms present a reality based on half-truths, conjecture, and outright lies. No ordinary citizen of these countries is free in any sense of the word. Governments at all levels, in collusion with banking, financial, and media institutions control currency, commerce, regulations, education, health, culture, speech, and rights, closing in on what people are allowed to do, or think. The social contract in democratic society was never supposed to be a one-way street in which elites do whatever they like without consequences, dictating to the masses the limitations of their freedoms, how they run their lives, what they can keep for themselves and what constitutes tribute. Citizens have inalienable rights, not protections granted by government. This is the great divide. In order to be free and experience liberty in all its expansive expressions, individuals need rely on government for nothing beyond national defense and the rule of law. Instead, Western nations have reversed roles. Governments demand to rule over the people, rather than the people giving consent to the government. These convulsions of everything that in the past made for great nations and free people, has engendered a neo-fascism that can no longer be hidden and threatens the survival of the nations and states and the people themselves. These are dangerous times. A couple of salient, anecdotal points are prescient. Freedom of information is essential and it is being denied in various manners. Stories hidden behind subscription services and paywalls that contain the core kernels of truth should be available to all, for free, not for a fee. Opaque or absence of regulations, especially in commerce and finance, should be plain, simple, and easily understood. Complexity and censorship encourages collusion, cheating, obfuscation, and outright lying. Untruth or lack of honesty has become endemic in the leading institutions, which helps explain why trust in government, media, finance, and medical authorities have dropped to unsustainably low levels. Understanding the ramifications of this article, The Hijacking of Bitcoin and the accompanying video...
gives credence to just how far down the rabbit hole go the Epstein Files and how deeply intertwined are current government operatives in everything that matters: your money, your property rights, your lives. Regrettably, Money Daily does not possess the resources available to present the whole story. It can, however, serve as a guide, pointing to the most important facets of the current condition. That's the purpose of links and embedded videos. There are few people who understand just how dangerous conditions are currently. Sourcing information about Roger Ver - known in some circles as "Bitcoin Jesus" - and viewing his interview with Tucker Carlson provides a step toward self-education and revelation. Rather than being a bystander to extreme, six-sigma motions in financial markets, the time has come to question why the price of silver rises to $121 and then falls to $76 in one day's trading, or why stocks dropped like rocks three days this week, but were saved by a glorious, out-of-the-blue, massive Friday rally (a repeating theme) that sent the Dow Jones Industrial Average to a record close. It's time to understand what's happening and take action. Stocks Stocks rocked up and down over the course of the week with varying results among the big three indices. A major selloff in the tech space, driven by doubts over excessive CapEx on AI buildout and an implosion in software issues, sent the NASDAQ reeling. Friday's massive rally lifted the Dow to a record close, but failed to deliver the NASDAQ from its fourth straight weekly decline and the S&P from falling for the third time in the past four weeks. Outperforming everything was the Dow Jones Transportation Average, up a whopping eight percent on the week. Airlines and shippers comprise most of the 20 stocks on the average, now having exceeded all expectations after a rapid advance from the end of November, lifting the index by more than 4,000 points. The major reversal began off the Liberation Day lows in April when the index stood at 12,470.80, closing this week at 19,892.36, a gain of 59.5% in 10 months. The advance in the Transportation Average seems a bit out of kilter, given that many of the companies involved (AA, UAL, FDX, UPS, etc.) haven't been exactly blowing the tops off earnings, though most have been cutting jobs and operating expenses, which makes enough sense from a "do more with less" perspective. Other than the Dow, the NYSE Composite showed the strength in small caps. Emerging markets are also faring well. The S&P ended flat for the week.
Weekly: December retail sales will be the first important data drop of the week on Tuesday, followed Wednesday by the delayed January jobs report. Also delayed from its original date because of the brief government shutdown is January CPI on Friday. The week ahead will feature more earnings reports with a couple of Dow components mixed in (McDonald's, Coca-Cola, Cisco): Monday: (before open) Apollo (APO), Cliffs (CLF), SallyBeauty Holdings (SBH); (after close) Silvercorp Metals (SVM), Upwork (UPWK), GoodYear (GT) Tuesday: (before open) Coca-Cola (KO), CVS Health (CVS), Fiserve (FISV), S&P Global (SPGI), AstraZeneca (AZN), Marriott (MAR); (after close) Ford (F), Upstart (UPST), Lyft (LYFT), Gilead Sciences (GILD), Mattel (MAT), Robinhood (HOOD), Cloudfare (NET) Wednesday: (before open) Humana (HUM), KraftHeinz (KHC), McDonald's (MCD), Shopify (SHOP) T Mobile (TMUS); (after close) Cisco (CSCO), Motorola Solutions (MSI), Applovin (APP), Aurora (AUR) Thursday: (before open) CROCS (CROX), Birkenstock (BIRK); (after close) Pinterest (PINS), Rivian (RVN), Coinbase (COIN), DraftKings (DKNG), Applied Materials (AMAT), Expedia (EXPE), Dutch Bros. (BROS) Friday: (before open) Wendy's (WEN), Advance Auto Parts (AAP), Enbridge (ENB), Moderna (MRNA) Treasury Yield Curve Rates
Interest rates were significant;y higher mid-week than they were on Friday, so the table above may be a little bit misleading. On Wednesday, yields on 2s were 3.57%: 3s, 3.64%; fives, 3.83%; sevens, 4.05%; 10s, 4.29%; 20s, 4.86%, and 30s, 4.91%. The big drops into the Friday close reveal the extent of the Feds YCC (Yield Curve Control), making everything seem cool when the fact is that markets are overheating. Jumping out of the stock market frying pan and into the fixed income fire - and then back again - indicates just how frayed markets have become, everybody seeking a relief valve or escape hatch at the same time, and, almost miraculously, finding one. Losers are retail plungers who zig when everybody else is zagging and don't fully comprehend the mechanics of herd behavior. In the end, the treasury complex is as much the snake eating its tail as any other metaphor. The scheme of having stablecoins replace actual sovereigns as net purchasers of U.S. debt is an incestuous torture chamber that will keep the American Dream alive a little longer, provided nobody awakens to the debt disaster unfolding. When will government debt become too burdensome? If $38 trillion isn't enough, how about $50 trillion? At current levels, that's a mere six years away. What escaped notice this week because of the "inside baseball" nature of heavy institutional money playing alongside monetary policy games at the Fed is that stocks and bonds were heading south at the same time. Let's see, Stocks going down, money more expensive to borrow? How's that going to work out? Fast footwork by the New York Fed's buying desk andf the PPT are roughly the only things keeping Armageddon from busting down the front door. It's a shame the smart guys have miscalculated. Trump's pass-through on the midterms originally required a short recession last year and a strong recovery in 2026 (create a problem, solve it rationale). That all blew up when he TACO'd a few days after "Liberation Day" back in April. Somewhere, sometime, somebody is going to let all the juice out and allow a proper flush of non-performing assets, companies, logic, but the can kicking remains in place because there is nobody willing to bear the pain of being right, especially Trump, who will continue to kick the can down the wrong road until it goes right over a cliff, the economy and his loss of majorities in congress with it. He'll be impeached next year, if not earlier, and then real fireworks! Can't wait! Spreads remain elevated. It would appear that once spreads and the yield curve begin to flatten out the truth will begin to see the light of day. No jobs, no industry, no expansion. GDP and CPI are lies that cannot fully cover up the actual carnage. If the Fed and Wall Street ever stop relying on those ancient, deeply-flawed metrics to make policy and investment decisions, the world will become unrecognizable, ugly at first, sturdy afterwards. The adjustment period will be trying, but that's a dream for another day... Spreads:
2s-10s
Full Spectrum (30-days - 30-years) Oil/Gas WTI crude closed out the week at $63.50, down significantly from last week's close of $65.74. While there remains an oil glut, geopolitical tensions stemming from the stalled out military action against Iran are keeping the price elevated for now. The U.S. position continues to be one of threatening Iran with complete destruction should its leaders not comply to extreme U.S. terms, one of which is lowering the range of its missiles so that they could not reach Israel, an absurd demand that verifies exactly what the U.S. is being led to do. The U.S. national average for gas at the pump rose two cents, to $2.89. California ramped up another 12 cents this week, to $4.43 per gallon, the highest in the nation. Washington ($3.99) moved to within a whisker of rejoining Cali in the $4+ club. Oregon ($3.49), was up 11 cents. After three weeks under $3.00, Arizona popped to $3.09. The lowest prices remain in the Southeast, with Oklahoma far below any other state, at $2.27, followed by Arkansas ($2.40), Louisiana and Mississippi ($2.42). The remaining Southeast states, from North Carolina ($2.69) west to New Mexico, are all wellbelow $2.69, except Florida ($2.89). In the Northeast, prices were steady and consistently low. Only Pennsylvania ($3.13) was above $3.00. New York held steady at $2.97, along with Vermont ($2.98). In the midwest region, where the price relief has been significant, Illinois remained the highest, at $3.00, up ten cents from last week, with Michigan and Indiana far behind at $2.80. Kansas was the lowest ($2.42), followed by North Dakota and Missouri ($2.52) and Wisconsin ($2.55). Sub-$3.00 gas was reported in 41 of the lower 48 states, two fewer than last week, leaving only California, Washington, Nevada, Oregon, Illinois, Arizona, and Pennsylvania, at $3.00 or above. Bitcoin
This week: $71,145.72 See the opening statement in this week's post for information on bitcoin. People with deep roots in bitcoin and other crypto developments are have been sounding alarm bells since 2017, but the effectiveness of the censorship cartel has shrouded the truth from the general public. The truth about bitcoin's hijacking by financial thugs needs to be exposed to the light. Moving forward, anybody interested in private transactions devoid of the snooping evil-eyed deep state might want to investigate Monero, Zeno, Zcash, Zcoin. Bitcoin hit a low of $61,395 in the early morning hours of Friday, February 6. The same people who provided the money to bail out the stock markets also bailed out bitcoin because the two asset classes - along with the Treasury market - are completely intertwined. The deep state cannot allow any of their favored asset classes to fail or - for political purposes - even suffer deep corrections, though bitcoin advocates would likely offer a different opinion, the crypto market in general having been reduced by half or more over the past four months. Bitcoin, being tied to stablecoins and CBDC development, requires deeper scrutiny. No matter what the condition is, it's certainly not looking like the ultimate panacea of the old-line advocates. Precious Metals Gold:Silver Ratio: 63.66; last week: 57.74 Futures, per COMEX continuous contracts:
Gold price 1/9: $4,518.40
Silver price 1/9: $79.79
SPOT:
Silver 1/9: $79.34 According to the best expert voices - Alasdair Macleod, Craig Hemke, Andrew Maguire and others - nobody sold a single ouce of gold or silver over the past week. Why would they? Most individual stackers have been sitting on their hands and acquiring precious metals for years, even decades. A short term correction didn't change their convictions, especially when the price of gold dropped back to where it was just two weeks prior and silver is about where it was four to five weeks ago and the volatility doesn't appear to be waning. Whatever causes one assigns to the pullback in precious metals over the past week or so, the overriding narrative hasn't changed one iota. Western governments continue to inflate by debasing their sovereign currencies, the COMEX and LBMA are criminal enterprises engaged in suppression tactics to further the illusion of mighty dollars, euros, pounds, and yen. For silver in particular, the ongoing supply shortagehasn't been fixed overnight and won't be any time soon. In the aftermath of the phenomenal recent price dislocation, China has responded with a few new regulations, cracking down on stablecoins and asset tokenization and the Shanghai Futures Exchange imposed restrictions on opening new positions for six groups of accounts, saying the account groups breached intraday opening transaction thresholds in related contracts, violating Article 16 of the Shanghai Futures Exchange Measures for the Administration of Abnormal Trading Behavior. The exchange imposed regulatory measures restricting the opening of new positions in the affected contracts. The truth matters. While the SHFE didn't name names, it's notable that JP Morgan moved its precious metals trading division to Singapore in late November. A slap on the wrist from Shanghai regulators isn't likely to deter the gang that already paid a nearly $1 billion fine for manipulating metals markets in the U.S., especially with China's markets closed for Chinese New Year. For the Shanghai Stock Exchange and Shenzhen Stock Exchange, the trading suspension schedule for the 2026 Lunar New Year holiday is from February 13 to February 20, with trading resuming on February 23, 2026. Similar closures are in place for the physical Shanghai Gold Exchange (SGE) and SHFE. Active traders should keep those dates in mind while the underworld of stackers and goldbugs can sit back and enjoy the show. Silver is in backwardation once again, thanks to a second round of paper games Wednesday and Thursday, leading to a strong rebound Friday. Here are the most recent prices for common one ounce gold and silver items sold on eBay (free shipping included, numismatics excluded):
The Single Ounce Silver Market Price Benchmark (SOSMPB) took another big drop this week, falling to $97.51, a decline of $9.11 from the February 1 price of $106.62 per troy ounce. The weekly movement reflects wider volatility in world markets and between physical and paper prices. The weekly eBay price survey revealed that retail dealers and casual buyers and sellers are either ignoring spot prices altogether or are adding severe premiums, likely the latter in terms of dealers, most of which don't have the cash resources to hedge against the recent wild swings, so they protect themselves by keeping prices exorbitantly ahead of spot and buying well below. Coin shops have been inundated with gold and silver sellers who are angry at prices offered. Most anybody who is selling their bullion or coinage does not appreciate the dynamics of the market and the positions of the small dealers. They only have stars in their eyes over the massive gains in precious metals and have no rationale about the future. Tight economic conditions for the middle and lower classes (90% of Americans) are also exacerbating the selling while across the oceans Indians and Chinese citizens are buying metals hand over fist, evidencing the difference in culture. Asians are savers, Americans and Europeans (bound by fiat money) are taught to spend. WEEKEND WRAP It's OK to watch the Super Bowl later today. It might even be OK to miss work tomorrow. The Monday following the Super Bowl is the most missed day of work of the entire year. Take a break. If you read any of this week’s prose or followed any of the links, you certainly deserve one.
At the Close, Friday, Fenruary 6, 2026:
For the Week:
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