RSS (c) The Financial Times Ltd 2010

RSS (c) The Financial Times Ltd 2010

  • Stocks struggle to consolidate on euro fears May 17, 2012
    Sentiment boosted by Japan’s stronger than expected GDP data as concerns of a Greek exit from the euro left many benchmarks at multi-month troughs […]
  • FTSE 100 banks stay under pressure May 17, 2012
    Sentiment suffers as traders react to European Central Bank plan to exclude four unnamed Greek banks from liquidity provision operations […]
  • ECB bars access to four Greek banks May 16, 2012
    Lenders will have to rely on ‘emergency liquidity assistance’ – a temporary facility provided by the Greek central bank but subject to ECB approval […]

RSS (c) The Financial Times Ltd 2010

  • Rhodium fails to regain lustre May 17, 2012
    Metal’s prospects cast gloom over mining executives gathered for their annual bash this week […]
  • Turkey close to Azeri gas deal May 16, 2012
    EU officials had hoped a bigger pipeline, named Nabucco, would provide substantial alternative supplies to Russian gas […]
  • Shell warns on US natural gas bounce May 16, 2012
    Chief executive Voser predicts strong recovery from the 10-year lows the fuel has hit as a result of the boom in shale gas production […]

Archive for Silver prices – Page 2

Silver Prices Fall Along With Gold

By anna · Comments (0)
Tuesday, January 6th, 2009

Spot silver prices declined with gold on a day when the rally in the US dollar was too big to be ignored by the participants in the white metal’s market, despite the fact that some traders think silver is somewhat underpriced compared to gold. The chart shows a crossover below the 9 and 14 day moving averages but later in the session silver managed to regain some of the lost ground probably due to stronger oil prices in response to continuing tensions in the Middle East . Remember also that silver is a consumed commodity, unlike gold which is simply added to the mountain of gold in circulation, so economic and industrial issues will always play a larger part in the moves in the silver market. The outlook for silver is still bullish in the short and long term, while medium term trend is bearish.

Support:    $10.540 (yesterday low)                                      Resistance: $12.080 (high of 08/10/08)

Support:    $10.420 (low of 16/12/08)                                    Resistance: $12.000 (psychological level)

Support:    $10.260 (low of 26/12/08)                                    Resistance: $11.747 (yesterday high)

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Silver Prices Today – 5th January 2009

By anna · Comments (0)
Monday, January 5th, 2009

Unlike gold, silver prices closed higher building on gains made in the last 4 sessions and the chart now shows the 9 day moving average crossing above the 14 day moving average. The upward move came as the US currency recovered marginally against euro which could suggest as we mentioned before that some silver market participants believe the white metal has some catching up to do with the moves in gold prices. The short and long term trends are bullish while medium term trend is bearish.

Support:    $10.979 (Friday low)                                         Resistance: $12.080 (high of 08/10/08)

Support:    $10.720 (low of 31/12/08)                                    Resistance: $12.000 (psychological level)

Support:    $10.530 (low of 19/12/08)                                    Resistance: $11.850 (high of 07/10/08)

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Spot Silver Prices – January 2009

By anna · Comments (0)
Friday, January 2nd, 2009

Following spot gold, silver prices closed higher despite a stronger US dollar after slipping earlier in the day. As we mentioned in the previous post some traders consider silver underpriced in comparison to gold, with extra support possibly coming from year-end short covering. I expect that silver will remain close to gold and also linked to the story of the US currency. The short and long term trends are bullish while medium term trend is bearish.

Support:    $10.720 (low of 31/12/08)                                    Resistance: $11.595 (high of 17/12/08)

Support:    $10.530 (low of 19/12/08)                                    Resistance: $11.430 (high of 16/12/08)

Support:    $10.420 (low of 16/12/08)                                    Resistance: $11.400 (high of 31/12/08)

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Silver Spot Price – December 31st 2008

By anna · Comments (0)
Friday, January 2nd, 2009

Adding to previous day gains daily silver prices moved higher with the technical picture now showing a crossover between the 9 and 14 day moving averages. In a day when gold declined the fact that the silver spot price not only increased, but managed to close above $11.00 level, could suggest that silver is underpriced in comparison to the yellow metal. The short and long term trends are bullish while medium term trend is bearish.

Support:    $10.630 (yesterday low)                                      Resistance: $11.430 (high of 16/12/08)

Support:    $10.530 (low of 19/12/08)                                    Resistance: $11.257 (high of 29/12/08)

Support:    $10.420 (low of 16/12/08)                                    Resistance: $11.132 (yesterday high)

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Silver Prices Bullish – 30th December 2008

By anna · Comments (0)
Tuesday, December 30th, 2008

Silver continued its upward trend, crossing above both 9 and 14 day moving averages and briefly surpassing $11.00 level. Although the recent high of $11.595 on 17 Dec this year is yet to be reached the white metal managed to outperform gold in percentage terms as some traders consider silver to be underpriced at present. Going forward market participants will continue to monitor the military action in Gaza which coupled with gold and the US dollar are likely to influence silver’s short term direction. The short and long term trends for silver prices are bullish, while medium term trend is bearish.

Support:    $10.640 (yesterday low)                                      Resistance: $11.595 (high of 17/12/08)

Support:    $10.530 (low of 19/12/08)                                    Resistance: $11.430 (high of 16/12/08)

Support:    $10.420 (low of 16/12/08)                                    Resistance: $11.257 (yesterday high)

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Silver Prices Move Higher – December 29th 2008

By anna · Comments (0)
Monday, December 29th, 2008

Following gold, silver prices moved higher crossing above the 14 day moving average in a market dominated by the same light trading volume. The help came from higher stock markets, crude oil prices and a modest weaker US currency, but as I have mentioned before, silver’s extra role of an industrial commodity makes the rally somewhat smaller compared to the price of gold.

The short and long term trends are bullish while medium term trend is bearish.

Support:    $10.530 (low of 19/12/08)                                   Resistance: $11.595 (high of 17/12/08)

Support:    $10.420 (low of 16/12/08)                                   Resistance: $11.430 (high of 16/12/08)

Support:    $10.260 (Friday low)                                        Resistance: $11.070 (high of 22/12/08)

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Silver Prices Fall With Gold

By anna · Comments (0)
Wednesday, December 24th, 2008

Daily silver prices fell harder than gold, closing below the 9 and 14 day moving averages although the 40 day moving average, just above the $10 price point, proved to be enough of a support level. Liquidation following US home sales data weighed on silver as well and the white metal’s role, more of an industrial commodity compared to gold only added extra pressure to the downward move in prices.

The short and long term trends are bullish while medium term trend is bearish.

Support:    $10.080 (yesterday low)                                     Resistance: $10.870 (yesterday high)

Support:    $10.029 (40 day moving average)                             Resistance: $10.530 (high of 11/12/08)

Support:    $9.637 (low of 09/12/08)                                   Resistance: $10.471 (14 day moving average)

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Daily Silver Prices – 23rd December 2008

By anna · Comments (0)
Tuesday, December 23rd, 2008

Daily silver prices closed marginally higher in a low volume pre-Christmas trading session managing to stay above the 9 day moving average. Initially up in line with gold as a result of dollar weakness the market was unable to hold the gains and retraced probably as a consequence of lack of interest. For the remaining part of the year the silver market is expected to get thin with the US dollar remaining its main driver.

The short and long term trends are bullish while medium term trend is bearish.

Support:    $10.710 (yesterday low)                                     Resistance: $11.595 (high of 17/12/08)

Support:    $10.530 (low of 19/12/08)                                   Resistance: $11.470 (high of 18/12/08)

Support:    $10.420 (low of 16/12/08)                                   Resistance: $11.070 (yesterday high)

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Daily Silver Prices – 22nd December 2008

By anna · Comments (0)
Monday, December 22nd, 2008

If you are new to trading in commodities, then silver provides an ideal starting point, as the volatility of this market is relatively low. I post an update on a daily basis so I hope the comments will help you to make a start in trading in precious metals. So what happened on Friday? – well silver prices crossed below the 9 day moving average on the same news of a stronger US dollar ( as for gold prices) and later rallied and closed above the indicator, but still down for the day. New developments about the auto bailout saga in US with the White House announcing that it will provide a massive emergency loan look set to make an impact on the white metal market, which rallied more than gold in percentage terms. Although silver will remain close to the US dollar as well as gold it seems that its role as primarily an industrial metal will exercise additional influence on its price.

The short and long term trends are bullish while medium term trend is bearish.

Support:    $10.530 (Friday’s low)                                     Resistance: $11.850 (high of 07/10/08)

Support:    $10.420 (low of 16/12/08)                                   Resistance: $11.595 (high of 17/12/08)

Support:    $10.210 (low of 15/12/08)                                   Resistance: $11.470 (high of 18/12/08)

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Silver Prices Fall With Gold

By anna · Comments (0)
Friday, December 19th, 2008

In line with gold, silver prices also ended lower as the result of a revival in the US dollar and it was no surprise to see traders taking some profits off the table. The drop in daily oil prices definitely helped but going forward it seems that despite a pick-up in demand noticed in recent weeks, the price of silver will remain closely linked to the strength or weakness in the US dollar. The short and long term trends are bullish while medium term trend is bearish.

Support:    $10.810 (low of 17/12/08)                                     Resistance: $12.080 (high of 08/10/08)

Support:    $10.643 (9 day moving average)                                Resistance: $11.850 (high of 07/10/08)

Support:    $10.420 (low of 16/12/08)                                     Resistance: $11.470 (yesterday high)

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