Silver breakout in the previous session fueled strong price action (+3.5% close/close in SIH5) associated with multiple consecutive CTA (Call To Action) buying events that ultimately increased their net long to 70%, equivalent to +13% of the CTA’s maximum size, as repeated whipsaws diminished the strength of the trend signal.
Spot Silver
✅ This post features the spot silver. Get up to date statistics, reports, analysis, xag/usd, charts and more on the Silver Spot – Neal Bhai Reports.
Spot silver above $30.50, expected target price $32.00——$32.35
Spot silver: If you want to invest in physical silver, you may be wondering how to get the best possible price. Although prices can vary depending on a number of factors, there are some guidelines that can help ensure you get the best possible price when it comes to buying silver.
Silver price today: Silver Rises
Silver prices (White Metal) rose on Monday, according to data. Silver trades at $29.77 per troy ounce, up 0.53% from the $29.61 it cost on Friday.
Spot Silver Gains on China Stimulus Plans
Spot Silver prices traded near $32 per ounce on Tuesday, staying close to one-month highs as Chinese policymakers unveiled plans for additional economic stimulus, boosting the demand outlook in the world’s top metals consumer.
Spot Silver Loses Grip Below $31.50
The Spot silver price drifts lower to around $31.20, snapping the two-day winning streak during the early European session on Thursday. The cautious stance on cutting rates by the Federal Reserve (Fed) weighs on the white metal.
Spot Silver Update: Silver skyrockets as buyers eye $33.75 [21 October 2024]
Spot Silver (XAG/USD) Update: The RSI is indicating increasing bullish momentum, with key resistance kye seen at $33.75 and $35.00.
Silver prices fell for the second consecutive day to around $31.25
Silver price (XAG/USD) saw some sellers close to $31.25 during the early Asian session on Monday. Improved risk sentiment in global markets fueled some profit booking in the white metal. Traders will be eyeing US Federal Reserve (Fed) Chair Jerome Powell’s speech later on Monday.
Silver net speculative longs at four and half year high
Precious metals speculators yet again increased their net long positions in the Silver (XAG/USD) futures markets sharply last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Silver futures, traded by large speculators, hedge funds and retailers, totaled a net position of 62198 contracts in the data reported through September 24, 2024. This was a weekly gain of 4000 net contracts and took net longs to four and half year high.
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