Silver Price Analysis
Silver showed virtually no price change on Friday from last week's finish despite dramatic political action towards the precious metals by No.1 consumer China and No.1 economy the USA. Less than a week after the authorities in Beijing tightened control of silver exports from China, the US Geological Survey yesterday added the industrially-useful precious metal to its list of "critical minerals". I thought we would see some more buying pressure on the news.
Silver Chart
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My current assets are valued at $5,470.82with a total acquisition cost of $3,240.95.
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The silver market is really bleeding massively and hopefully it will recover soon
Yeah, it’s been a rough stretch for silver lately. The sell-off feels overdone though these kinds of dips often set the stage for strong rebounds once investor sentiment shifts. Let’s hope the fundamentals catch up soon!
If it had remained above 50 and continued to give candles, then we thought there were more chances that it would pump more, but now that it has gone down, after a few days the rest of the things will look right.
True, staying above that 50 level would’ve signaled stronger momentum. Now that it’s dipped, it might just need a bit of consolidation before the next move. Sometimes these pullbacks shake out weak hands before the real run begins.
Yeah you are right.
They are keeping it down. It’s gonna gain steam again…
t definitely feels like some big players are suppressing the price right now. But once the pressure eases, silver usually bounces back fast. The fundamentals are still solid, so it’s just a matter of time before momentum returns.
I finally got around and made my purchases for Christmas the other day. I ended up paying like $7 over spot for some of the pieces, so even with the base price going up, it seems like the premiums are up as well.
Those premiums have been creeping up no matter what spot does. It’s like dealers are hedging against the volatility or the tight supply.
yeah, I guess so. I went ahead and pulled the trigger anyway because they were for my nieces and nephews. If I was just stacking for myself I probably would have went with something more generic.
Well that buy looks good with that 4% move today!
It’s interesting to see how the silver market stays steady even with all the political changes going on. Always good to keep track of these shifts and watch how things unfold.
According to the charts, it looks like silver will continue to fall
The charts are definitely showing some short-term weakness the lower highs and that recent support break don’t look great. Silver tends to overcorrect before turning around, so this could just be a temporary dip before the next leg up. Definitely a time to watch closely rather than panic.
Agreed
Nice! I am back to accumulation mode myself. Had to sell some a while back so building back up. Just hit 25 oz this week.
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