Silver Daily Price Recap
27.103 was the closing price of the day for Silver, resulting in today being one in which price moved down 0.19% ($0.05) from the day prior. Those trading within the metals asset class should know that Silver was the worst performer in the class today. Here is a daily price chart of Silver.
Silver Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Silver’s price has gone down 8 them. 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 AIMInvestor4:
@DonaldPond6 @DirtyJohn85 I couldn’t agree more Donald #PXC is an absolute gem, funded this year, cash flow next & only 1% of the Empire mine yet explored. It really could be £200m+ market cap in fairly short order. Sp only low a few months ago due to Silver price, COVID & the fact it was unknown…
- From MattStirner:
@goldseek Fortuna looks to be an absolute beast right now. So glad I have been adding to that position. If this silver price is sustained through to NY trading we will see a new 52 week high.
- From effective_k:
@ContrarianMoves @GarrettGoggin Valuation of miners. Eg miner producing at AISC of $14/ounce makes $2/ounce profit at $16/ounce , Vs $10/ounce at silver price of $24. Miners have increase but more to come
For a longer news piece related to XAGUSD that’s been generating discussion, check out:
Industrial metals are dependent on more fiscal stimulus and a global economic rebound, yet increasingly vulnerable to normal stock-market mean reversion,” wrote McGlone in the latest monthly commodity update. For silver to outperform gold on a continuous basis for the rest of the year, the market will have to see a combination of rising bond yields, a peak dollar, declining stock-market volatility and continued global economic expansion….“If stock prices decline, gold’s upper hand should accelerate as base metals come under pressure.” Moreover, the gold’s bull rally is just beginning, noted the report.