Gold News
The silver price has taken a beating over the past week, dropping 18% from $28 to $23. Or at least that is what the COMEX is telling us. In reality, the price of silver is nowhere close to $23. Don’t believe me? Try to find silver coins for sale anywhere in the free market at [...]
Just like in gold (covered here yesterday) silver is trading at the bottom of a very long established trading range, 19 months to be more precise. After making a high of as near damn of $50 back in April 2011 silver slumped all the way down to $26.05 by September 2011, a fall of nearly [...]
Yesterday we pointed out that despite gold’s recent pull-back an interesting parabolic line of support, starting in 2001, remained firmly intact. So we thought that we’d take a look at the silver market and see if there is a similar parabolic trend. Here’s what we found… Silver $ (weekly): (click for sharper image) We can [...]
Much like in the gold price the silver price has been trading in a long-term range over the past 16 months with the $35 level marking the top and the $27 level marking the bottom. There have been three failed attempts at breaking above the $35 level and three failed attempts to break below the [...]
After a break lower through the rising support level at the start of the week the silver price quickly fell to its short-term support level around $30.75. Silver tried to rally off this level on tuesday but yesterday fell back again to that support level. This morning silver has bounced once again off that level [...]
Whilst both gold and silver have sold-off this morning it is silver that is technically holding up better – which should be some crumbs of comfort for the precious metals bulls. Silver $ (daily) (click for sharper image) We can see there has been a rising support level since July 2012 and today silver [...]
CME group have announced that the margin level required to trade (paper) gold and silver has been reduced. CME, the biggest operator of U.S. futures exchanges, said late Thursday it lowered initial margins on the benchmark COMEX 100-ounce gold futures contract by 10 percent to $5,940 per contract from $6,600. It also cut maintenance margins [...]
Just like in the case of gold the 55 daily moving average is proven to be quite important of late. Silver $ (daily): (click for sharper image) We can see back at the end of November the silver price got above the 55DMA – but within a couple of weeks silver was pushed back below [...]
It’s clear that the $32.4 area is now the important level that silver must break-through to get the silver-shorts running for cover. This is now the forth time that silver has spiked into the $32 area only to be beaten back fairly promptly. On January 23rd silver got as high as $32.48 only to find [...]
The silver price has fallen back to around $31.8 today. The dip should come as no surprise after a great run up since January 4th of 10%. Silver $ (2 hourly): (click for sharper image) We’ve also been keeping a close eye on the gold:silver ratio the past few weeks. Back in January 10th we [...]
