Silver 4 Hour Price Update
Updated February 23, 2021 01:59 AM GMT (09:59 PM EST)
Silver is up 0.38% ($0.11) since the previous 4 hours, marking the 4th candle in a row an increase has occurred. Silver outperformed all 5 assets in the metals asset class since the previous 4 hours.
Silver Daily Price Recap
Silver is up 3.47% ($0.95) since the day prior, marking the 2nd straight day it has gone up. On a relative basis, today was pretty good: Silver bested all 5 of the assets in the metals class 🙂 Let’s take a look at the daily price chart of Silver.
Silver Technical Analysis
Volatility for Silver has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Silver’s price has gone up 16 of the previous 30 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Silver:
- From MoneyIsMyParty:
Appreciate all the follows my fellow #Silver friends! All we want is free markets and fair for as many participants as possible. I’m a firm believer that once we can break the PAPER SILVER price we can begin to get back to an actual free market.No hate, just want freedom.
- From BullionStar:
@Galactic_Trader FT article is either clueless or deliberately skewed. No mention of the ongoing huge physical demand. No mention of ETFs accounting for nearly all silver held in London LBMA vaults. No mention of SLV prospectus change. No mention of bullion bank attacks on COMEX silver price, etc
- From TheLastDegree:
the 3rd value add is El Palenque (acquired from PAAS)
Defiance owns 1/4th of the Zacatecas now undrilled – 12m wide with 4km of strike length, high gradesfollow-up of El Palenque will unlock big value in 2021, regardless of #silver pricewe are talking in the scale 100Moz
In terms of news links for Silver here’s one to try:
The Silver Spot Price is the current silver market price at which silver can be transacted in volume on the wholesale silver market for immediate delivery and short-dated settlement. By convention, the Silver Spot price on the wholesale silver market is quoted in US dollars per troy ounce and the quotation refers to two-way bid and offer quotations for a standard amount of silver in the range of 100,000 troy ounces to 200,000 troy ounces which are quoted by silver market makers during silver trading hours….The silver trading unit in the London Silver Market is one troy ounce of 99.9% silver purity….As trading volume in these silver contracts is huge, COMEX is one of the silver markets, along with the London OTC Silver Market, which dominates international silver price discovery….In addition to silver futures trading on the COMEX, silver futures contracts are also traded on a number of other futures exchanges around the world, and these other trading venues also support price discovery of the silver price….Since the two most important silver markets in the world for price discovery, the London OTC Silver Market and the COMEX futures market, trade in terms of US Dollars per troy ounces, the silver price is usually quoted in US dollars per troy ounce….In the physical silver markets, product pricing of silver bars and silver coins reflects the spot price of silver plus a premium.