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Silver Jul '23 (SIN23)

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Silver Futures Market News and Commentary

Dollar Moves Higher as T-Note Yields Jump and Stocks Falter

The dollar index (DXY00) today rebounded from a 1-1/2 week low and is slightly higher.  The dollar saw support today after bond yields jumped when today’s US economic news showed signs of persistent inflation and labor market strength, hawkish factors for Fed policy.  Also, today’s slump in stocks has boosted liquidity demand for the dollar.

US weekly initial unemployment claims unexpectedly fell -5,000 to a 2-month low of 207,000, showing a stronger labor market than expectations of an increase to 215,000.

US Q1 GDP was revised downward to 1.6% (q/q annualized) from 3.4%, weaker than expectations of 2.5%, as Q1 personal consumption was revised lower to 2.5% from 3.3%, weaker than expectations of 3.0%.  The Q1 core PCE price index was revised upward to +3.7% from +2.0%, stronger than expectations of +3.4%.

US Mar pending home sales rose +3.4% m/n, stronger than expectations of +0.4% m/m.

The markets are discounting the chances for a -25 bp rate cut at 3% for... 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
06/30/23
Expiration Date
07/27/23 (expired)

Seasonal Chart

Silver Jul '23
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Apr 16, 2024

View Chart Details
Commercials - Long / Short
46,442 (+2,080)
120,470 (+4,833)
Non-Commercials - Long / Short
82,415 (-2,411)
29,056 (-2,558)
Producers - Long / Short
9,862 (-189)
51,018 (-136)
Swap Dealers - Long / Short
27,853 (-472)
60,725 (+2,228)
Managed Money - Long / Short
60,445 (+840)
20,255 (-2,719)
Other Reportables - Long / Short
21,970 (-3,251)
8,801 (+161)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
22.295 +8.71%
on 06/29/23
25.280 -4.13%
on 07/20/23
+1.276 (+5.56%)
since 06/27/23
3-Month
22.140 +9.47%
on 06/23/23
26.435 -8.32%
on 05/05/23
-0.973 (-3.86%)
since 04/27/23
52-Week
17.900 +35.40%
on 09/01/22
26.435 -8.32%
on 05/05/23
+5.065 (+26.42%)
since 07/27/22

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Most Recent Stories

More News
Dollar Moves Higher as T-Note Yields Jump and Stocks Falter

The dollar index (DXY00 ) today rebounded from a 1-1/2 week low and is slightly higher. The dollar saw support today after bond yields jumped when today’s US economic news showed signs of persistent...

DXY00 : 105.707 (-0.14%)
^EURUSD : 1.07175 (+0.17%)
^USDJPY : 155.586 (+0.15%)
GCM24 : 2,338.2 (-0.01%)
SIK24 : 27.315 (-0.11%)
Will Wheat, Soybean, and Corn Prices Continue to Rally? Or is This Just Short Covering?

I discussed the recent action in the wheat, soybean, and corn markets on AgWeb's Market's Now with Michelle Rook today. We also talked about the cattle markets and gold.

ZWK24 : 601-4 (+1.18%)
ZSK24 : 1155-4 (-0.90%)
ZCK24 : 439-6 (+0.46%)
LEJ24 : 182.650 (+0.30%)
GCM24 : 2,338.2 (-0.01%)
Dollar Gains with Higher T-Note Yields and Yen Weakness

The dollar index (DXY00 ) on Wednesday rose +0.16%. The dollar on Wednesday recovered from a 1-1/2 week low and moved moderately higher. Strength in T-note yields Wednesday boosted the dollar. Also,...

DXY00 : 105.707 (-0.14%)
^EURUSD : 1.07175 (+0.17%)
^USDJPY : 155.586 (+0.15%)
GCM24 : 2,338.2 (-0.01%)
SIK24 : 27.315 (-0.11%)
Dollar Climbs with T-Note Yields

The dollar index (DXY00 ) today recovered from an early 1-1/2 week low and is up +0.12%. The dollar is seeing support from higher T-note yields but is being undercut by reduced liquidity demand due to...

DXY00 : 105.707 (-0.14%)
^EURUSD : 1.07175 (+0.17%)
^USDJPY : 155.586 (+0.15%)
GCM24 : 2,338.2 (-0.01%)
SIK24 : 27.315 (-0.11%)
Dollar Retreats as Bond Yields Fall and Stocks Rally

The dollar index (DXY00 ) Tuesday fell to a 1-week low and finished down by -0.37%. The dollar was under pressure from strength in the euro after Tuesday’s news showed the Eurozone Apr S&P composite...

DXY00 : 105.707 (-0.14%)
^EURUSD : 1.07175 (+0.17%)
^USDJPY : 155.586 (+0.15%)
GCM24 : 2,338.2 (-0.01%)
SIK24 : 27.315 (-0.11%)
Is Silver Going to Break Out on the Upside?

Silver approached a test of the $30 per ounce level, the highest price since February 2021. If silver can eventually power through $30, it could be on a path to challenge the 2011 and 1980 highs.

SIK24 : 27.315 (-0.11%)
SLV : 24.94 (+0.16%)
Platinum (PL) Turning Higher

Platinum (PL) looks to have formed a bottom and the metal has started to rally higher in the next bullish cycle. The metal still needs to break above 1348.2 to confirm that the next leg higher has started....

SPDR Metals & Mining ETF ( $XME) Found Buyers at the Blue Box Area as Expected.

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of SPDR Metals & Mining ETF (XME) . The rally from 3.14.2024 low at $55.37 unfolded as 5 waves...

XME : 59.32 (+0.03%)
Gold Price Slides Even Without Dollar’s Help!

Gold slides once again today, proving that yesterday’s $67 slide was not accidental.

Dollar Falls on Lower Bond Yields and Stronger Stocks

The dollar index (DXY00 ) this morning is down by -0.35% and posted a 1-week low. The dollar is under pressure as the euro strengthened after today’s news that the Eurozone Apr S&P composite PMI expanded...

DXY00 : 105.707 (-0.14%)
^EURUSD : 1.07175 (+0.17%)
^USDJPY : 155.586 (+0.15%)
GCM24 : 2,338.2 (-0.01%)
SIK24 : 27.315 (-0.11%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 24.236
2nd Resistance Point 24.236
1st Resistance Point 24.236
Last Price 24.236s
1st Support Level 24.236
2nd Support Level 24.236
3rd Support Level 24.236

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52-Week High 26.435
Last Price 24.236s
Fibonacci 61.8% 23.175
Fibonacci 50% 22.167
Fibonacci 38.2% 21.160
52-Week Low 17.900

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