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Silver May '23 (SIK23)
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Silver Futures Market News and Commentary

Dollar Gives up Early Gains as Strong Stocks Curb Liquidity Demand

The dollar index (DXY00) on Friday fell by -0.06%.  The dollar on Friday retreated from a 2-1/4 month high and posted modest losses.  A rally in stocks Friday curbed liquidity demand for the dollar.  Also, T-note yields fell back from their highest levels, which weighed on the dollar.  The dollar Friday initially moved higher as stronger-than-expected U.S. news on consumer spending and inflation bolstered the prospects of additional fed rate hikes. Also, weakness in the yen is positive for the dollar after the yen tumbled to a 6-month low against the dollar Friday. 

Friday’s U.S. economic news was better-than-expected and positive for the dollar.  Apr personal spending rose +0.8% m/m, stronger than expectations of +0.5% m/m.  Also, Apr capital goods orders nondefense ex-aircraft and parts, a proxy for capital spending, unexpectedly rose +1.4% m/m, stronger than expectations of a decline of -0.1% m/m and the biggest increase in 16 months.  In addition, the University of Michiga... 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
04/28/23
Expiration Date
05/26/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 23, 2023

View Chart Details
Commercials - Long / Short
42,194 (-832)
77,166 (-2,927)
Non-Commercials - Long / Short
56,686 (-3,754)
34,728 (-1,897)
Producers - Long / Short
2,532 (+163)
28,852 (-1,605)
Swap Dealers - Long / Short
38,191 (-952)
46,843 (-1,279)
Managed Money - Long / Short
43,270 (-1,867)
30,590 (-1,807)
Other Reportables - Long / Short
13,416 (-1,887)
4,138 (-90)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
22.786 +1.99%
on 05/25/23
26.200 -11.30%
on 05/05/23
-1.636 (-6.58%)
since 04/26/23
3-Month
19.945 +16.52%
on 03/10/23
26.235 -11.42%
on 04/14/23
+2.304 (+11.00%)
since 02/24/23
52-Week
17.750 +30.93%
on 09/01/22
26.235 -11.42%
on 04/14/23
+0.656 (+2.90%)
since 05/26/22

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Most Recent Stories

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Gold Update – An Explosive Rally Gets Delayed

The continuous gold futures contract rose to an ominous price in May 2023, reaching $2,072 per ounce. The rally took gold to a level creating a technical pattern that sticks out like a sore thumb on the...

GCM23 : 1,944.3s (+0.03%)
Ranked: Topmost Copper Producers of the World in 2022

Glencore was ranked fourth, with annual production of 993.4 kt in 2022.

HGN23 : 3.6820s (+2.62%)
HJK23 : 3.7445s (+0.34%)
QCN23 : 3.6820s (+2.62%)
O9M23 : 8,124.50s (+2.28%)
CUPAUSY2.CM : 2.7495 (-1.11%)
CUPAUSY6.CM : 2.4398 (+0.02%)
CUPAUSY1.CM : 2.8143 (unch)
Weekly Market Report: Steel Scrap Prices–26th May, 2023

The LME Steel Scrap CFR Turkey (Platts) Month 2 Closing price as on 25th May, 2023 stood at $371.00 per tonne.

ICRA Cut Steel Price Forecast for FY24

The steel prices have been witnessing decline since the beginning of FY2024.

HVK23 : 1,099.00s (unch)
THN23 : 475.00s (+2.15%)
C-V23 : 361.00s (unch)
V7V23 : 542.00s (+2.26%)
V5K23 : 1,089.57s (-0.40%)
FSPAUSY41.CM : 8.7550 (unch)
FSPAUSY46.CM : 7.9400 (unch)
SSPAUSY39.CM : 0.2463 (-1.24%)
25th May, 2023: North American Copper Scrap Prices Soared on Index

Brass Radiator /Fe and Brass Radiator Ends prices maintained the previous day price levels.

Copper Scrap Prices: Weekly Market Report- 26th May, 2023

The LME Copper Cash Settlement contract edged higher marginally from $7,910.00 a day before to $7,922.00 per tonne.

25th May, 2023: Scrap Gold and Silver Prices Soared, Platinum Dipped on Index

In the Hallmarked category, the 14 carat gold scrap prices went higher by $ 0.25 per Oz.

CUTMETALL Expands Scrap Metal Recycling in US Under New Management

CUTMETALL North America will open its office on June 1st in Tyrone, Georgia, and will ensure the supply of high-quality spare and wear parts for size reduction technology.

Dollar Gives up Early Gains as Strong Stocks Curb Liquidity Demand

The dollar index (DXY00 ) on Friday fell by -0.06%. The dollar on Friday retreated from a 2-1/4 month high and posted modest losses. A rally in stocks Friday curbed liquidity demand for the dollar. ...

DXY00 : 104.206s (-0.04%)
^EURUSD : 1.07271 (+0.02%)
^USDJPY : 140.641 (+0.41%)
GCQ23 : 1,963.1s (+0.04%)
SIN23 : 23.360s (+1.96%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 23.407
2nd Resistance Point 23.323
1st Resistance Point 23.282
Last Price 23.240s
1st Support Level 23.157
2nd Support Level 23.073
3rd Support Level 23.032

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52-Week High 26.235
Last Price 23.240s
Fibonacci 61.8% 22.994
Fibonacci 50% 21.993
Fibonacci 38.2% 20.991
52-Week Low 17.750

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