Silver Prices
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Silver Prices
2y ago
Credit: PD Photo
The precious white metal prices recently moved sideways, which formed a Doji day, which experts explain is a sign of indecisiveness in the market. Typically, the occurrence occurs when the commodity’s open and close prices are at the same levels.
What are the factors that affect the prices? AS per the experts, it is the weaker than expected U.S. ISM manufacturing report. The U.S. Yields moved lower following the findings of the ISM manufacturing report. However, they also believe that the declining yields offset the momentum. The gold prices have remained unchanged, co ..read more
Silver Prices
2y ago
Credit: Piqsels
The silver market tried to rally during the recent trading week. However, the markets broke down to touch the bottom of the ascending triangle.
The market persists with plenty of buyers underneath, with the $26 level being critical for some time. Furthermore, there is still the 50-week EMA and the uptrend line from the ascending week.
Experts highlight the facet of the psychology of the candlesticks around the massive selloff meeting with stabilization. Just around a month back, the market fell apart. However, experts observe a slightly upward tilt since then. Plus, at this p ..read more
Silver Prices
3y ago
Credit: Unsplash
The silver markets rallied during the trading sessions recently. However, the precious white metal gave back the gains rather quickly above the $20 level. Currently, the yields are hovering with the level set around $28.
The market constantly needs to consider the facets, including industrial demand and what is going on with the US dollar. The aspect is significant to the market to counter what the dollars are doing under most circumstances. Thus, if the US dollar searches for the fall, it could make sense that the precious white metal would get a bid. Furthermore, silver tr ..read more
Silver Prices
3y ago
Credit: Pixabay
Silver markets initially pulled back during the trading session recently. However, the market then turned around to break much higher. At this point, it looks as if the market will go looking towards the upside and touch the $28 level. Moreover, the precious white metal market will be driven and highly influenced by the reopening trade and, of course, industrial demand because the precious metal is an industrial metal.
Furthermore, the 50 days EMA underneath should offer support, quite like the last couple of weeks, so it certainly looks like the market is trying to go to the ..read more
Silver Prices
3y ago
Credit: KevinSpiro / CC-BY-SA 3.0
Silver enthusiasts have had a psychologically challenging, last few weeks. With the white precious metal gaining about 47% in 2020, the best year since 2010, it easily outpaced gold’s 25% return. In reality, the white metal is down 9% so far in 2021.
Moreover, nearly all the fundamental market drivers have remained intact. The first driver is on
performance, silver performed impressively in 2020, and it was due to correct. The pattern is typical of bull markets. The second pressure point is a rising US dollar index, which is attributed to rising long-te ..read more
Silver Prices
3y ago
Credit: Flickr / Eric Golub / CC-BY 2.0
Silver Markets initially dipped recently towards the $26 level and then bounced back, showing signs of strength again.
The white silver market initially pulled back during the trading session recently to drop back towards the $26 level. However, experts found buyers underneath to turn things around. Plus, it formed a bit of a hammer. The hammer is a bullish sign, and experts trust that the 50-day EMA typically attracts a specific amount of buying. In this context, if the highs from the trading session are broken recently, the market can likely go looki ..read more
Silver Prices
3y ago
Credit: Piqsels
Silver recently rose to an almost eight-year high after an extended surge that commenced with the retail-investor sweeping through markets.
Most-active futures rose to around 13% ($30.35 an ounce) on the Comex, which is the highest since February 2013. Subsequently, a weekend buying was observed overwhelming online sellers of silver bars and coins from the U.S. to Australia. BlackRock Inc.’s iShares Silver Trust, the largest exchange-traded product tracking the metal, recorded an unprecedented $944 million net inflow recently. Later, CME Group raised futures margins by 18%, m ..read more
Silver Prices
3y ago
Credit: Piqsels
The future prices of gold and silver are trading sharply up recently in midday U.S. action. The yellow metal hit a seven-week high and silver metal a 3.5-month high.
The metals stand poised to swell up by a weak U.S. dollar on the foreign exchange market that witnessed the dollar index hitting a 2.5-year low. As the U.S. stock market sold off recently, safe-haven demand was seen. Moreover, the demand was amid surging Covid-19 cases in the U.S., Europe and other parts of the world. February gold futures were last up USD 45.90 (at USD 1,940.70) whereas March Comex silver was la ..read more
Silver Prices
3y ago
Credit: PD Photo
The white precious metal market recently tried to rally during the trading session but met too much resistance to continue going higher. With forming the candlestick, essentially post-bearish (gravestone doji), experts suggest that it is time for a pullback.
The huge candlestick recently highlights plenty of bullish pressure, and one may need to at the least digest the recent gains. Plus, the white precious metal market continues to see buyers on dips, and that is probably expected going forward. The $22 level is significant, as it was the bottom of the&n ..read more
Silver Prices
3y ago
Credit: Piqsels
The white precious metal gapped higher to kick off the session recently. However, the metal gave back the gains almost immediately, as the market crashed into the 50 day EMA again.
The silver market ultimately has plenty of support underneath. At this point in time, it is quite likely that one will continue to see buyers underneath near the $24 level, even when it is possibly down at the $22.75 level. The area has garnered support in the past and is likely a matter of time before buyers show up in that area. Furthermore, there is also the 200 day EMA near the $21.70 level. Wi ..read more