Silver (XAGUSD) Down $0.2 in Last 4 Hours, Started Today Up 1.58%; Price Base in Formation Over Past 30 Days

Silver 4 Hour Price Update

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

Silver came into the current 4 hour candle down 0.72% ($0.2) from the open of the last 4 hour candle, marking the 2nd straight candle a decline has happened. On a relative basis, Silver was the worst performer out of all 5 of the assets in the metals asset class the current 4 hour candle.

Silver Daily Price Recap

Silver closed yesterday up 1.58% ($0.42); this denotes the 2nd straight day an increase has occurred. Relative to other instruments in the metals asset class, Silver ranked 2nd since yesterday in terms of percentage price change. Here is a daily price chart of Silver.

XAGUSD

Silver Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 9 out of the past 14 days.

Overheard on Twitter

Behold! Here are the top tweets related to Silver:

  • 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

  • From minarchis1:

    If the massive #silver price appreciation resulting from the Hunt Brothers’ market manipulation in the ’80s is accepted as having occurred why is it a conspiracy to believe that similar events can’t also be taking place now in order to manipulate prices lower?#silversqueeze

  • From MacleodFinance:

    The silver price feels firm and there is no physical around. The only way to get physical is to buy Comex futures and stand for delivery. If the paper traders try to bash the price they will only end up more short.

In terms of news links for Silver here’s one to try:

Silver Price Today in USD | Silver Spot Price and Silver Chart | KITCO

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.