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  • Positive employment data lift US stocks February 3, 2012
    US stocks hit six-month high on news that unemployment fell to a three-year low in January with banks among the main beneficiaries […]
  • Stocks surge on strong US jobs data February 3, 2012
    Equities and commodities benefit from robust US employment data with the FTSE All-World index at its best levels since start of August […]
  • Volatile banks push Europe higher February 3, 2012
    Rapid gains for Société Générale and Crédit Agricole helped the FTSE Eurofirst rise for the fourth consecutive session on Friday […]

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  • Stocks surge on strong US jobs data February 3, 2012
    Equities and commodities benefit from robust US employment data with the FTSE All-World index at its best levels since start of August […]
  • Dollar rises as jobs boost dents QE3 speculation February 3, 2012
    The dollar strengthens after US data show a larger than expected rise in employment with investors taking this as a positive signal on the economy […]
  • Riot halts Egypt bourse rally February 3, 2012
    Stock exchange index drops 2.2 per cent following deadly riots, following 28 per cent rise on January. […]

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Archive for daily silver price

Daily Silver Prices – Spot Market

By anna · Comments (0)
Tuesday, January 13th, 2009

Yesterday, after a week of testing the 9 and 14 day moving averages the spot silver price broke convincingly below these indicators stopping slightly above the 40 day moving average. Like gold the white metal nosedived hit by liquidation of previous long positions amid a strong US currency and lower crude oil. It is also possible that a break below the $11.00 level made a few investors nervous who were hoping to capitalize on the perceived under priced silver compared to gold – always a dangerous assumption. Silver prices are currently trading in a narrow sideways range as I write, between $10.55 and $10.70 on the hourly chart. The short term trend is sideways, the medium term trend is bearish while the long term trend is bullish.

Support:    $10.510 (yesterday low)                                    Resistance: $11.290 (yesterday high)

Support:    $10.450 (high of 24/12/08)                                 Resistance: $11.016 (14 day moving average)

Support:    $10.210 (low of 15/12/08)                                  Resistance: $10.850 (low of 07/01/09)

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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 – 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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Silver Prices Lag Gold

By anna · Comments (0)
Tuesday, December 16th, 2008

Concerns about a severe economic slowdown continue to be the reason why silver lags behind gold on an upward trend but on the way down its move is exacerbated when compared to gold. Although the white metal is likely to feel extra pressure from also being an industrial metal as I mentioned in last weeks posts, its story also remains close to a weakening US dollar. The short term trend is sideways, medium term trend is bearish while long term trend is bullish.

Support:    $9.980 (Friday’s low)                                       Resistance: $10.797 (high of 06/11/08)

Support:    $9.951 (14 day moving average)                             Resistance: $10.680 (high of 24/11/08)

Support:    $9.797 (40 day moving average)                              Resistance: $10.530 (high of 11/12/08)

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Silver Prices Lack Direction

By anna · Comments (0)
Friday, December 12th, 2008

Silver closed higher again, on the back of a weak US dollar but its strength lags behind gold. The reason for this as I mentioned in yesterday’s post is its double role both as a currency and also as an industrial metal. The morning news from the US about the failure to agree on the auto bailout also sent silver lower implying that sideways movements are still the current trend at present. The short term trend is sideways, medium term trend is bearish while long term trend is bullish.

Support:    $9.936 (14 day moving average)                              Resistance: $10.797 (high of 06/11/08)

Support:    $9.782 (40 day moving average)                             Resistance: $10.680 (high of 24/11/08)

Support:    $9.450 (low of 08/12/08)                                    Resistance: $10.530 (yesterday high)

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