I have a 2004 v70 with 40k miles. At around 30k miles I had the CV boot replaced on the front driver wheel. The mechanic at the time said I should probably look at replacing these little nubs that prevent the wheel from turning too far. Apparently they had worn down. I have not replaced these nubs yet.
Now I notice that when I make a moderate left turn (~15 mph) and hit a bump (like a storm water drain or a driveway ramp) then I hear a constant whining from the front driver wheel area. I haven't driven it very far after this noise starts so I don't know if it goes away while driving. I do know that it goes away if I turn off the engine and then restart the car.
I have looked at the wheel well from the side of the car and cannot see anything out of the ordinary. I have not looked at the car from below yet.
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If the "nubs" are actually steering stops, and it only happens when your turning left, Check inside your wheel arches for signs of rubbing / wear. I know this "normally gives a rubbing sound" but some Volvo's have a metal plate inserted "because of the tyre rubbing on full lock" and it can cause a squeal. Joe.
Looks like it might have just been low power steering fluid. Turning left moved the fluid away from the intake hose and caused air bubbles to get into the system. The whining noise seems to have been caused by these air bubbles making their way through the system.
Big thanks goes to my local mechanic for figuring this out.