Silver (XAGUSD) Down $0.02 in Last 4 Hours, Started Today Down 0.06%; in a Downtrend Over Past 30 Days

Silver Daily Price Recap

23.825 was the closing price of the day for Silver, resulting in today being one in which price moved down 0.06% ($0.02) from yesterday. Relative to other instruments in the metals asset class, Silver ranked 4th since yesterday in terms of percentage price change. The daily price chart of Silver below illustrates.

XAGUSD

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 down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 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 Malik49977264:

    #UFO @AlienMetals Stock lagging the silver price re-rating makes no sense. The shares are in fact discounting a #silver price well below spot of c$15/oz and assigning zero value to the gold-copper and iron ore projects. Upside in the multiples, and at floor valuations. Clear buy.

  • From insigniaconsul1:

    Premium over MCX futures in silver (MCX silver december future+premium=physical silver price in India) has not risen at all today. This reflects subdued silver demand in India. #Silver @SilverInstitute @MCXIndialtd

  • From SilverGold_News:

    @CaptainCatus Gives an indictation of what the true #Silver price should be once you take the banksters out of the equation