Silver (XAGUSD) Down $0.08 On 4 Hour Chart, Entered Today Down For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days

Silver 4 Hour Price Update

Updated January 08, 2021 01:58 AM GMT (09:58 PM EST)

27.161 was the closing price of the four-hour candle for Silver, resulting in the current 4 hour candle being one in which price moved down 0.3% ($0.08) from the last 4 hour candle. Out of the 5 instruments in the metals asset class, Silver ended up ranking 4th for the four-hour candle in terms of price change relative to the last 4 hour candle.

Silver Daily Price Recap

Silver is down 0.72% ($0.2) since the previous day, marking the 2nd consecutive day it has gone down. 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 previous day. The daily price chart of Silver below illustrates.

XAGUSD

Silver Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Silver’s price has gone up 19 of the previous 30 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Silver:

  • From CryptoGayGuy:

    silver bullion dealers see their stocks vanish like snow for the sun. soon premiums will skyrocket, detaching the price of physical metal from its ETF price, even if that doesn’t move.mining shares will soar with increased fees across the board and a rising silver price.

  • From Boulugre:

    @hdsharvey @TheLastDegree Don’t worry, the women population will be 100% correlated with the silver price 🤣

  • From silverquote:

    Hong Kong #Silver #Price Morning Session Open: $27.14 USD per oz 2021-01-07 08:30:18 HKT

For a longer news piece related to XAGUSD that’s been generating discussion, check out:

Emerging inflation underpins gold and silver price rises

Still, 1:70 is a lot better than the 1:128 ratio which occurred in the silver market last year….The firm has also been bullish on silver….“Gold has been around as a currency for thousands of years and is one of the oldest cultural institutions.” But what about the gold mining sector as opposed to the metal they produce, or for which they explore?…One, the share prices of the gold companies, particularly the producers, for several years lagged the rise in the metal’s price….Well-known US gold pundit Doug Casey said recently that fund managers have been “miseducated” about gold since university and that gold stocks are not even on the radar of most institutional investors….And the point follows that the value of the primary silver producers is even far less.