|Day's Range||15.075 - 15.275|
|52 Week Range||15.0750 - 15.2750|
Silver markets rallied a bit during the week, breaking towards the $17.00 level before pulling back slightly. Currently, the market looks as if it is trying to consolidate a bit and decide its next move.
The silver markets initially tried to rally during the trading session on Friday but gave back the gains yet again. With this, it continues to look very likely to continue going sideways, as there is no urgency to move in one direction or the other.
Investing.com -- Gold prices rose on Friday as risk aversion returned to markets disappointed by the modesty of a much-hyped ‘phase-1’ trade deal between the U.S. and China.
Silver prices are a whisker under the symbolic $17.00 level, as the metal continues to grind out slow-but-steady gains this week. The U.S. and China have reached a limited agreement in principle, which could put a cap on silver gains.
The silver market went back and forth during the trading session on Thursday as traders continue to try to find some type of longer-term move.
Silver prices posted considerable gains after the Fed rate decision was more dovish than expected. Currently, the metal is trading slightly below the $17.00 level.
Investing.com -- Gold prices edged higher in early trading in New York on Thursday but were unable to break out of an increasingly narrow range as the market waits to see whether President Donald Trump will carry out his threat to escalate the trade war with China.
Silver markets rallied a bit during the trading session on Wednesday, bouncing from the 200 day EMA finally. This is a bullish sign, but we have a ton of resistance above that could come into play.
Investing.com -- Gold prices ticked higher on Wednesday in trading largely subdued by anticipation of the Federal Reserve’s statement after its policy-making meeting.
Silver is calm on Wednesday, but that could change in the North American session, with the release of consumer inflation and the Federal Reserve rate decision.
Very little happened in the precious metals market both yesterday and in today’s pre-market trading – at least so far. We will take this opportunity to discuss something that we haven’t done in a while – silver stocks.
Silver markets continue to look very lackluster, as we have had a minor gain during the trading session on Tuesday, only to see the market simply flatten back out.
Investing.com -- Gold prices rose again on Tuesday as fears spread that the U.S. and China won’t sign an interim trade deal before the next round of U.S. import tariffs kicks in on Sunday.
Silver markets rallied slightly during the trading session on Monday, but really haven’t been able to hang on to gains for any amount of time. At this point, the market is likely to pay attention to the 200 day EMA which is right here.
Silver has steadied on Monday, after sustaining sharp losses at the end of last week following a strong nonfarm payrolls report. Investors are looking ahead to U.S. inflation data and the Federal Reserve rate decision.
Investing.com -- Gold prices bounced a little in quiet trade on Monday, steadying after a volatile day on Friday, when a strong U.S. labor market report lifted risk assets at the expense of havens.
Silver markets initially tried to rally during the week but ran into a significant amount of resistance at the previous uptrend line, showing signs of resistance. This is a horrifically negative sign.
Silver markets broke down rather significantly during the trading session on Friday as the US jobs number was blockbuster. At this point, we are testing a major support level.
Investing.com -- Gold prices tumbled on Friday after a stronger-than-expected U.S. labor market report sent risk assets soaring and drained money from havens.
Silver prices are flat on Friday. However, we could see some movement later in the day, as the U.S. releases Nonfarm payrolls and wage growth at 15:30 GMT.
Silver futures in the March contract is currently trading higher by 12 cents at 17.03 an ounce reversing some of the steep losses that we witnessed in yesterday’s trade as this market continues to flip flop on a daily basis still stuck in a 4 week tight consolidation pattern.
Silver markets were slightly positive during trading on Thursday, as we continue the overall consolidation. As we await the jobs figure, a lot of traders will of course be paid attention to what happens next, but at this point things look dicey at best.
Silver has been busy this week, with strong swings in both directions. It has been a quiet session on Thursday, but with the U.S. releasing key employment data on Friday, we could see further volatility before the end of the week.