Silver (XAGUSD) Down $0.42 in Last 4 Hours, And A Link About Alastair; Started Today Down 1.72%

Silver Daily Price Recap

24.187 was the closing price of the day for Silver, resulting in today being one in which price moved down 1.72% ($0.42) from the day prior. On a relative basis, Silver was the worst performer out of all 5 of the assets in the metals asset class today. The daily price chart of Silver below illustrates.

XAGUSD

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 22 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

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Silver for the past day were:

  • From MacleodFinance:

    Putting aside technical analysts expectations of a significant reaction in gold and silver, price performance feels bullish. If technical fears were valid, we would not see prices so stable at all-time highs for gold, and following a sharp rise for silver.

  • From FerroTV:

    “With more downside expected in US real interest rates, we are once again reiterating our long gold recommendation from March and are raising our 12-month gold and silver price forecasts to $2300/toz and $30/toz respectively from $2000/toz and $22/toz”Goldman Sachs

  • From YuanTalks:

    #GoldmanSachs raised forecast of #Gold price in the next 12 months to $2,300 per ounce from previous $2,000.
    It raised forecast of #Silver price to $30 per ounce from previous $22.

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

The silver price is really beginning to move, which is good news for Alien Metals Ltd

Pharma & Biotech Coronavirus Cannabis Battery Metals Psychedelics Pharma & Biotech Coronavirus Cannabis Battery Metals Psychedelics 14:54 Tue 16 Jun 2020 Follow Alastair on: Alien Metals Ltd has a diverse portfolio of commodities to develop Alien has a broad portfolio of assets both Mexico and Australia Alien Metals Ltd (LON:UFO) is about to commence two consecutive underground sampling programs on its core silver projects in Mexico, San Celso and Los Campos….Although the global pandemic has put a damper on the markets overall, the safe-haven status of gold and silver has injected new life into the precious metals market and these companies are ready for their time to shine….In exchange for publishing services rendered by the Company on behalf of Alien Metals Ltd named herein, including the promotion by the Company of Alien Metals Ltd in any Content on the Site, the Company receives from…