Silver (XAGUSD) Up $0.4 in Last 4 Hours, Outperforms All metals; in an Uptrend Over Past 90 Days

Silver 4 Hour Price Update

Updated July 14, 2020 11:18 AM GMT (07:18 AM EST)

Silver closed the previous 4 hours up 2.11% ($0.4); this denotes the 2nd candle in a row an upward move has occurred. Silver outperformed all 5 assets in the metals asset class since the previous 4 hours.

Silver Daily Price Recap

Silver closed yesterday up 2.11% ($0.4); this denotes the 2nd day in a row it has gone up. Silver outperformed all 5 assets in the metals asset class since yesterday. The daily price chart of Silver below illustrates.

Silver Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Silver’s price has gone up 17 of the previous 30 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Behold! Here are the top tweets related to Silver:

  • From JasonEBurack:

    @SchiffSpencer Silver is the commodity where the largest amount of annual supply comes as a byproduct of mining copper, gold, lead and zinc. And many of the miners of the other commodities don’t care about the silver price because it’s a byproduct.

  • From Mintmark:

    “‘Having fallen sharply in mid-March, the silver price has since recovered strongly, rising by 56 percent to reach US$17.84 at end-June; it has since broken through the US$18 barrier,’ wrote the institute [i.e., the Silver Institute].” — Kitco News

  • From Ggwashington1:

    @LawrenceLepard I like it. $fsm MC still under 1B with Lindero about to produce 200,000oz au alone at cost of 700-800usd, plus the existing mines! Plus silver price about to break out. This thing should be at 3-5Bmc

As for a news story related to Silver getting some buzz:

Hecla tips higher silver prices – Mining Journal

Nornickel reports another Arctic fuel spill

Hecla Mining’s Casa Berardi operation in Quebec

Cardinal heading down familiar gold road
It also announced a new investment by Investissement Quebec, with Hecla to issue IQ C$50 million (US$36.8 million) of senior unsecured five-year notes yielding 5.74% to fund Casa Berardi capital expenditures and replace existing bonds….Hecla said it had produced 3.4 million ounces of silver and 59,982oz of gold from its five operations, despite Casa Berardi in Quebec and San Sebastian in Mexico being subject to government-mandated shutdowns of three and four weeks respectively during the quarter….Cardinal heading down familiar gold road
Its production outlook was “unchanged at this time”, with San Sebastian production expected to cease in the third quarter while both Lucky Friday and Casa Berardi were expected to increase output in the second half.