Silver Daily Price Recap
Silver entered today at $27.2, down 0.19% ($0.05) from the day prior. Out of the 5 instruments in the metals asset class, Silver ended up ranking 4th for the day in terms of price change relative to the day prior. Let’s take a look at the daily price chart of Silver.
Silver Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Silver for the past day were:
- From HertsTimelord:
@Alessandrohodl @zerohedge The silver price jumped from $6/ounce in January1979 to a record high of $49 per ounce in January 1980, an increase of 713%. The Texan Hunt brothers were estimated to hold 1/3 of the entire world supply of silver. COMEX changed the rules on leverage & the price halved in 4 days.
- From Reptoid_Hunter:
Silver price is going up and will FLY soon!Those with paper silver think they are doing well lolIf it isn’t in your hand you don’t have it!Wait until the shit hits the fanCan’t wait…Try and get delivery of your REAL silver from paper!Price will be to the moon!
- From Scouting4Gold:
(1) A thread on why those dismissing the #Silversqueeze are wrongI have noticed over the past fortnight a series of veteran precious metal traders and fund managers issuing dismissive and rude remarks about the #Silversqueeze, Reddit and the new found #Silver price momentum
As for a news story related to Silver getting some buzz:
The spot silver price refers to the price of silver for immediate delivery….There is usually a difference between the spot price of silver and the future price….The ask price is the lowest price someone is willing to sell an ounce of gold….Because there is no official closing or opening price for gold or silver, market participants rely on benchmark prices, set during different times of the day by different organizations….The LBMA Silver Price, The LBMA Gold Price, and the LBMA PGM Price are the widely accepted benchmarks in the
precious metals space….The Kitco Silver Fix can be found at: http://www.kitco.com/fix/
One troy ounce of silver is the same around the world and for larger transaction are usually priced in U.S. dollars as that is the most active market; however, the value of an ounce of silver can be higher or lower based on the value of a nation’s currency.