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Silver Mini Jul '23 (QIN23)
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Silver Mini Futures Market News and Commentary

Dollar Climbs on Rising Bond Yields

The dollar index (DXY00) on Monday rose by +0.40% and posted a new 6-1/2 month high.   The dollar moved higher Monday on rising bond yields, with the 10-year T-note climbing to a 16-year high.  Also, the dollar has carryover support from last Wednesday when the Fed signaled one more +25 bp rate hike this year and projected the fed funds rate next year +50 bp higher than they projected back in June.

Weaker-than-expected U.S. economic news Monday was bearish for the dollar.  The Aug Chicago Fed national activity index fell -0.23 -0.16, weaker than expectations of 0.10.  Also, the Aug Dallas Fed manufacturing outlook level of general business activity unexpectedly fell -0.9 to -18.1, weaker than expectations of an increase to -14.0.

EUR/USD (^EURUSD) on Monday fell by -0.63% and posted a 6-1/2 month low.  Dollar strength Monday weighed on the euro along with dovish ECB comments.  ECB Governing Council member Kazaks said the ECB's 25 bp rate hike this month may allow for a p... Read more

Contract Specifications

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Contract
E-Mini Silver
Contract Size
2,500 troy ounces
Tick Size
$0.0125 per troy ounce ($31.25 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 12:25p.m.) CST
Exchange
COMEX
Point Value
$2,500
Margin/Maintenance
$4,675/4,250
First Notice Date
06/30/23
Expiration Date
06/28/23 (expired)

Seasonal Chart

Silver Mini Jul '23
Average Price Chart for 5 Prior Jul Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
22.1500 +3.34%
on 06/23/23
24.6125 -7.00%
on 06/09/23
-0.4710 (-2.02%)
since 05/26/23
3-Month
22.1500 +3.34%
on 06/23/23
26.4375 -13.42%
on 04/14/23
-0.7210 (-3.05%)
since 03/28/23
52-Week
18.0750 +26.63%
on 09/01/22
26.4375 -13.42%
on 04/14/23
+1.3460 (+6.25%)
since 06/28/22

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Most Recent Stories

More News
DENR Opens First E-Waste Materials Recovery Facility Outside NCR

Teh said the proper management of e-waste could help mitigate the impact of climate change and address water pollution.

U8V23 : 33,082.00s (-0.08%)
Rising Copper Thefts Hit Infrastructure, Businesses

The most spectacular copper theft of all time in Germany, though, happened at copper manufacturing and recycling company Aurubis in August.

HGZ23 : 3.6560 (-0.38%)
HJU23 : 3.7186s (-0.12%)
QCZ23 : 3.6580 (-0.33%)
O9Z23 : 8,142.50s (-0.99%)
CUPAUSY2.CM : 2.7495 (-1.11%)
CUPAUSY6.CM : 2.4398 (+0.02%)
CUPAUSY1.CM : 2.8143 (unch)
China Scoops Up Cheap Indian Iron Ore in Bid to Trim Steel Costs

The steelmaking ingredient is currently trading near $115 a ton on the Singapore exchange, the global benchmark.

HVV23 : 706.00s (-3.16%)
THV23 : 390.00s (-3.70%)
C-V23 : 372.00s (-1.85%)
V7X23 : 555.00s (-1.16%)
V5U23 : 714.50s (unch)
FSPAUSY41.CM : 8.7550 (unch)
FSPAUSY46.CM : 7.9400 (unch)
SSPAUSY39.CM : 0.2463 (-1.24%)
AISI Posted Surge in U.S. Raw Steel Output

The production was 1.733 million NT during the week ended September 16, 2023.

HVV23 : 706.00s (-3.16%)
THV23 : 390.00s (-3.70%)
C-V23 : 372.00s (-1.85%)
V7X23 : 555.00s (-1.16%)
V5U23 : 714.50s (unch)
FSPAUSY41.CM : 8.7550 (unch)
FSPAUSY46.CM : 7.9400 (unch)
SSPAUSY39.CM : 0.2463 (-1.24%)
Chinese Gold Price Premium Surged to Hit Record Levels

However, the month of August marked significant surge in premiums, thus resulting in significant deviation from its mean values.

GCZ23 : 1,929.5 (-0.37%)
GRZ23 : 1,929.6 (-0.36%)
Alcoa Announced Leadership Transition

The company will continue to remain focused on executing its strategies to create value, he said.

ALZ23 : 2,243.50 (+0.58%)
Q8Z23 : 2,234.00s (-0.37%)
R8V23 : 1,544.50s (+1.85%)
ALPAUSY15.CM : 0.6939 (unch)
ALPAUSY51.CM : 0.4211 (-0.21%)
Worldsteel Reported Boom in August Crude Steel Output

The Asia and Oceania region recorded modest year-on-year rise in output by 3.50%.

HVV23 : 706.00s (-3.16%)
THV23 : 390.00s (-3.70%)
C-V23 : 372.00s (-1.85%)
V7X23 : 555.00s (-1.16%)
V5U23 : 714.50s (unch)
FSPAUSY41.CM : 8.7550 (unch)
FSPAUSY46.CM : 7.9400 (unch)
SSPAUSY39.CM : 0.2463 (-1.24%)
25th September, 2023: Scrap Gold, Silver and Platinum Prices Surged on Index

In the Hallmarked category, the 14 carat gold scrap prices were up by $ 7.01 per Oz.

25th September, 2023: Chinese Scrap Metal Prices Dipped on Index

The prices of UBC and Zorba 90% INF recorded decline by CNY 50 per MT from the previous day.

Tata Steel’s Dutch Plant Emissions Seen Causing Serious Health Impacts

This is the first time that a research study has highlighted the impacts of harmful emissions from the Tata Steel plant.

HVV23 : 706.00s (-3.16%)
THV23 : 390.00s (-3.70%)
C-V23 : 372.00s (-1.85%)
V7X23 : 555.00s (-1.16%)
V5U23 : 714.50s (unch)
FSPAUSY41.CM : 8.7550 (unch)
FSPAUSY46.CM : 7.9400 (unch)
SSPAUSY39.CM : 0.2463 (-1.24%)

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Average Signal Strength.

Key Turning Points

3rd Resistance Point 23.3718
2nd Resistance Point 23.1797
1st Resistance Point 23.0343
Last Price 22.8890s
1st Support Level 22.6968
2nd Support Level 22.5047
3rd Support Level 22.3593

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52-Week High 26.4375
Fibonacci 61.8% 23.2430
Last Price 22.8890s
Fibonacci 50% 22.2563
Fibonacci 38.2% 21.2695
52-Week Low 18.0750

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