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Silver May '24 (SIK24)

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Silver Futures Market News and Commentary

Dollar Falls with T-Note Yields

The dollar index (DXY00) on Wednesday fell by -0.28%.  The dollar was under pressure Wednesday due to a decline in T-note yields.  Also, the euro's strength Wednesday undercut the dollar based on hawkish comments from ECB President Lagarde and ECB Governing Council member Holzmann.  Losses in the dollar were contained as expectations for Fed rate cuts have fallen.  According to federal funds futures contracts, the chance of a Fed rate cut at the June FOMC meeting has dropped to 19% from 66% at the start of the month. 

The Fed Beige Book said the US economy has "expanded slightly" since late February, and firms have reported greater difficulty in passing on higher costs.  Also, "several reports mentioned weakness in discretionary spending, as consumers' price sensitivity remained elevated."

The markets are discounting the chances for a -25 bp rate cut at 3% for the next FOMC meeting on April 30-May 1 and 19% for the following meeting on June 11-12.

EUR/USD (^EURUSD)... Read more

Contract Specifications

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Contract
Silver 5,000-oz
Contract Size
5,000 troy ounces
Tick Size
$0.005 per troy ounce ($25.00 per contract) (Settlement $0.001)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (RTH 7:25a.m. - 12:25p.m.) (Settles 12:25p.m.) CST
Exchange
COMEX
Point Value
$5,000
Margin/Maintenance
$10,450/9,500
First Notice Date
04/30/24 (12 days)
Expiration Date
05/29/24 (41 days)

Seasonal Chart

Silver May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 9, 2024

View Chart Details
Commercials - Long / Short
44,362 (+1,424)
115,637 (+4,993)
Non-Commercials - Long / Short
84,826 (+1,261)
31,614 (+1,196)
Producers - Long / Short
10,051 (+2,445)
51,154 (+4,848)
Swap Dealers - Long / Short
28,325 (+894)
58,497 (+2,060)
Managed Money - Long / Short
59,605 (+1,742)
22,974 (-1,588)
Other Reportables - Long / Short
25,221 (-481)
8,640 (+2,784)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
24.445 +16.77%
on 03/27/24
29.905 -4.55%
on 04/12/24
+3.280 (+12.98%)
since 03/18/24
3-Month
22.190 +28.64%
on 02/14/24
29.905 -4.55%
on 04/12/24
+5.516 (+23.95%)
since 01/18/24
52-Week
21.400 +33.39%
on 10/04/23
29.905 -4.55%
on 04/12/24
+2.018 (+7.61%)
since 04/18/23

More Silver Quotes

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Most Recent Stories

More News
Dollar Falls with T-Note Yields

The dollar index (DXY00 ) on Wednesday fell by -0.28%. The dollar was under pressure Wednesday due to a decline in T-note yields. Also, the euro's strength Wednesday undercut the dollar based on hawkish...

DXY00 : 105.860 (-0.09%)
^EURUSD : 1.06761 (+0.03%)
^USDJPY : 154.365 (-0.01%)
GCM24 : 2,394.9 (+0.27%)
SIK24 : 28.555 (+0.55%)
SLV vs. SILJ: How Do These 2 Silver ETFs Compare?

As the silver market heats up amid simmering inflation and robust industrial demand, let's compare two popular silver ETFs - the iShares Silver Trust and the Amplify Junior Silver Miners ETF.

SIK24 : 28.555 (+0.55%)
SLV : 25.85 (+0.19%)
SILJ : 10.99 (+0.73%)
GLD : 219.59 (-0.74%)
$SPX : 5,022.21 (-0.58%)
PAAS : 18.90 (+0.53%)
AG : 6.84 (unch)
CSCCF : 6.9150 (+0.14%)
HMY : 9.08 (+2.37%)
MAG : 12.14 (+4.03%)
Dollar Slips as Stocks Rebound and Bond Yields Fall

The dollar index (DXY00 ) this morning is down by -0.09%. The dollar is under pressure today due to a rebound in stocks, which reduces liquidity demand for the dollar. Also, a decline in T-note yields...

DXY00 : 105.860 (-0.09%)
^EURUSD : 1.06761 (+0.03%)
^USDJPY : 154.365 (-0.01%)
GCM24 : 2,394.9 (+0.27%)
SIK24 : 28.555 (+0.55%)
Is This Dividend Stock a Buy on Bank of America's Bullish Copper Forecast?

Given Bank of America's bullish copper forecast, could it be an opportune time to buy dividend-paying copper mining stock Freeport-McMoRan? Let's explore.

HGK24 : 4.4375 (+2.26%)
$SPX : 5,022.21 (-0.58%)
BAC : 35.23 (+1.59%)
FCX : 49.82 (+0.83%)
GCM24 : 2,394.9 (+0.27%)
SCCO : 114.17 (+0.30%)
Why is the Gold Rally Leaving Silver Behind?

Gold has rallied despite Fed Funds futures depricing many of the rate cuts that traders had previously expected for 2024. While the rally hasn’t fully translated to the silver market, silver could potentially...

Dollar Gains on Hawkish Fed Commentary

The dollar index (DXY00 ) Tuesday recovered from early losses and finished up +0.07%. The dollar posted a 5-1/2 month high Tuesday based on hawkish Fed comments. Fed Chair Powell, San Francisco Fed President...

DXY00 : 105.860 (-0.09%)
^EURUSD : 1.06761 (+0.03%)
^USDJPY : 154.365 (-0.01%)
GCM24 : 2,394.9 (+0.27%)
SIK24 : 28.555 (+0.55%)
Is It Too Late to Buy This Uranium Stock Near 16-Year Highs?

Cameco stock has crushed the broader markets in the last five years and still has significant upside potential, given its earnings growth forecasts.

UXM24 : 89.80s (-0.06%)
CCJ : 48.41 (+0.46%)
BAM : 39.03 (+1.51%)
GS : 403.91 (+1.78%)
Dollar Finds Support on Hawkish Fed Comments

The dollar index (DXY00 ) today recovered from early losses and moved up to a 5-1/2 month high based on hawkish Fed comments. San Francisco Fed President Daly said Monday night that there's "no urgency"...

DXY00 : 105.860 (-0.09%)
^EURUSD : 1.06761 (+0.03%)
^USDJPY : 154.365 (-0.01%)
GCM24 : 2,394.9 (+0.27%)
SIK24 : 28.555 (+0.55%)
Gold/Silver: Wildcards That Could Boost Precious Metals Today – Metals Minute w/ Phil Streible

Tune into today's Metals Minute for key levels and actionable trade ideas covering your favorite Precious Metals, overnight developments, and what to watch for every trading day.

Silver Miners ETF (SIL) Has Turned Higher

(SIL) (Silver Miners ETF) is a financial product designed to mirror the performance of silver mining companies. It offers investors a straightforward way to gain exposure to the silver market without...

SIL : 31.06 (+1.34%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Maximum Signal Strength.

Key Turning Points

3rd Resistance Point 29.565
2nd Resistance Point 29.230
1st Resistance Point 28.815
Last Price 28.565
1st Support Level 28.065
2nd Support Level 27.730
3rd Support Level 27.315

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52-Week High 29.905
Last Price 28.565
Fibonacci 61.8% 26.656
Fibonacci 50% 25.653
Fibonacci 38.2% 24.649
52-Week Low 21.400

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