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Silver Dec '22 (SIZ22)
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Silver Futures Market News and Commentary

Dollar Slightly Lower on Expectations of a Fed Pause

The dollar index (DXY00) on Wednesday fell by -0.03%.  The dollar is under pressure from expectations the Fed will pause its rate-hike campaign at next week’s FOMC meeting.  The market expects only a 29% chance the Fed will raise its fed funds target range by +25 bp next week.  The dollar recovered from its worst levels after the 10-year T-note yield rose to a 1-1/2 week high of 3.799%.

Wednesday’s U.S. economic news was mixed for the dollar.  On the bearish side, the U.S Apr trade deficit widened to -$74.6 billion from -$64.2 billion in Mar, the largest deficit in 6 months but smaller than expectations of -$75.8 billion.  Conversely, Apr consumer credit rose +$23.01 billion, stronger than expectations of +$22.0 billion and the most in 5 months.

EUR/USD (^EURUSD) on Wednesday rose by +0.10%.  Central bank divergence is bullish for the euro on the prospects for the Fed to pause raising interest rates next week while the ECB raises rates.  Also, hawkish comments Wednesday... 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
11/30/22
Expiration Date
12/28/22 (expired)

Seasonal Chart

Silver Dec '22
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of May 30, 2023

View Chart Details
Commercials - Long / Short
41,602 (-592)
76,138 (-1,028)
Non-Commercials - Long / Short
54,837 (-1,849)
33,713 (-1,015)
Producers - Long / Short
1,977 (-555)
28,328 (-524)
Swap Dealers - Long / Short
37,782 (-409)
45,967 (-876)
Managed Money - Long / Short
39,203 (-4,067)
29,929 (-661)
Other Reportables - Long / Short
15,634 (+2,218)
3,784 (-354)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
20.845 +13.52%
on 11/29/22
24.170 -2.10%
on 12/20/22
+2.748 (+13.14%)
since 11/28/22
3-Month
18.010 +31.39%
on 10/14/22
24.170 -2.10%
on 12/20/22
+4.783 (+25.33%)
since 09/28/22
52-Week
17.400 +35.99%
on 09/01/22
27.500 -13.95%
on 03/08/22
+0.362 (+1.55%)
since 12/28/21

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Most Recent Stories

More News
Global Gold ETF Demand Flipped, Driven by Robust May Inflows

The holdings in global gold ETFs witnessed an increase by 19 tonnes during the month to total 3,478 tonnes by end-May.

GCQ23 : 1,962.0 (+0.18%)
GRQ23 : 1,961.8 (+0.17%)
World Ferrous Scrap Trade Data by Area in 2022

The second largest exporter was the North American region, whose exports totalled 24.0 million tonnes.

U.S. Steel Shipments in April Surged over Prior Month

The cumulative shipments by U.S. domestic steel mills totalled 28.939 million net tons during the initial four-month period of the year.

HVM23 : 934.00 (+0.43%)
THM23 : 520.00s (unch)
C-V23 : 378.00s (unch)
V7V23 : 552.00s (-2.04%)
V5M23 : 951.82s (unch)
FSPAUSY41.CM : 8.7550 (unch)
FSPAUSY46.CM : 7.9400 (unch)
SSPAUSY39.CM : 0.2463 (-1.24%)
7th June, 2023-North American Copper Scrap Prices Dipped on Index

309 SS and 310 SS prices saw no change in price on a daily basis.

ArcelorMittal Signed Agreement to Supply General Motors with XCarb Steel

Moreover, it does not use carbon offsets to obtain the reduced carbon intensity.

HVM23 : 934.00 (+0.43%)
THM23 : 520.00s (unch)
C-V23 : 378.00s (unch)
V7V23 : 552.00s (-2.04%)
V5M23 : 951.82s (unch)
FSPAUSY41.CM : 8.7550 (unch)
FSPAUSY46.CM : 7.9400 (unch)
SSPAUSY39.CM : 0.2463 (-1.24%)
6th June, 2023: Chinese Scrap Metal Prices Surged Significantly on Index

The price of 304 SS Turning increased by CNY 50 on Index.

ERI Became First ITAD and E-Waste Recycling Company to Earn SOC 2 Type II Compliance Certification

The certification process involves rigorous review of organizations’ systems and controls.

U8M23 : 29,135.00s (-0.02%)
6th June, 2023: Scrap Gold and Silver Prices Dipped, Platinum Surged on Index

In the Non-Hallmarked category, the 14 carat gold scrap prices edged lower by $ 7.89 per Oz.

SAIL Rourkela Steel Plant Posted Robust Output Performance

The output during April-May this financial year was the best ever in the company’s history.

HVM23 : 934.00 (+0.43%)
THM23 : 520.00s (unch)
C-V23 : 378.00s (unch)
V7V23 : 552.00s (-2.04%)
V5M23 : 951.82s (unch)
FSPAUSY41.CM : 8.7550 (unch)
FSPAUSY46.CM : 7.9400 (unch)
SSPAUSY39.CM : 0.2463 (-1.24%)
Scrap Export Market Saw Several Shifts in 2022

In the aluminum scrap export sector, India emerged as the single largest buyer of scrap from the U.S. last year, purchasing 459,000 metric tons of aluminum-bearing scrap.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 24.487
2nd Resistance Point 24.291
1st Resistance Point 23.977
Last Price 23.663s
1st Support Level 23.467
2nd Support Level 23.271
3rd Support Level 22.957

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52-Week High 27.500
Last Price 23.663s
Fibonacci 61.8% 23.642
Fibonacci 50% 22.450
Fibonacci 38.2% 21.258
52-Week Low 17.400

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