Silver (XAGUSD) Down $0.16 Over Past 4 Hours, Fares the Worst Out of metals; Came Into Today Down For the 2nd Consecutive Day

Silver Daily Price Recap

Silver came into today down 0.63% ($0.16) from the open of the day prior, marking the 2nd consecutive day it has gone down. Those trading within the metals asset class should know that Silver was the worst performer in the class today. The daily price chart of Silver below illustrates.

XAGUSD

Silver Technical Analysis

Notably, Silver crossed below its 20 and 100 day moving averages yesterday. Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days Silver’s price has gone up 6 them.

Overheard on Twitter

Behold! Here are the top tweets related to Silver:

  • From abl_trader:

    Is anything wrong with Alexco Resources $axu? Stock has been a true disappointment. They are close to production, silver prices are now holding above 24$ and the stock is basically trading at the same level as in January with a silver price of 16$.

  • From DonDurrett:

    @johnlee25893955 @AmirGold2020 I would rather see 200 M&I and the silver price at $50. At that point, I can tell you your share price. I’ll give you a hint, it will be north of C$1.5. Good luck with drilling in 2021.

  • From urbandwellerMTL:

    @thesloopjonb @TheLastDegree I second that. My thesis for buying Aurcana was 1- upgrade because of production in 2021, 2-upgrade because of higher silver price, 3-upgrade for potential listing on NYSE and finally 4-M&A.