Speedometer and cable problem

Hey everybody

Recently I noticed that my speedometer needle was broken off....
Then I realized that what was left of it was bouncing all over the place at the same time that the bike was making a "Wah wah wah wah wah" kind of winding noise. At first I thought this noise was my brakes rubbing until I saw that it was happening at the same time as the needle was bouncing.

Is this a common thing? I've been considering upgrading the whole dashboard to something more modern anyway. how much of a hassle it it to do that?
It doesn't look like anything is loose , what should I look at first?

Am I doing more damage to the bike by riding it like this?

 

If its only making noise while moving, sounding like its the speedo and keeps screaming when you pull the clutch in, then you likely have the scream of death.
I had that on the first test ride after resurrecting my XJ650. Had to pull the speedo apart, remove all the old grease from the worm gear and such inside and put fresh lube on it. Has not come back (yet).

https://www.xjbikes.com/forums/threads/1983-xj650-maxim-bringing-back-to-life.131454/page-4

 

Sounds easy enough, and yes that's exactly what it's doing, thanks