• Suppose that in Problem 22.17 the price of silver at the close of trading yesterday was $16, its volatility was estimated as 1 .5% per day, and its correlation with gold was estimated as 0.8. The price of silver at the close of trading today is unchanged at $16. Update the volatility of silver and the correlation between silver and gold using the two models in Problem 22.17. In practice, is the to parameter likely to be the same for gold and silver?