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Silver coins can be an ideal way to preserve your wealth. Silver coins have the status of legal tender and are produced by a sovereign government’s mint (such as The Royal Mint and United States Mint). You can be confident when you buy silver coins from Direct Bullion because of the reputation we have achieved through years of dedication and excellent customer service, culminating in winning numerous awards. Additionally, for extra peace of mind, all deliveries are sent by special courier and are fully insured.


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Silver Price Online



Simple and lightweight Silver Live Chart is a powerful free tool that allows you to easily conduct technical analysis online without downloading additional files and applications. In order to meet the needs of the most demanding technical analysts, you can find over a hundred chart analysis tools on our Silver chart. You can also add any of 80 technical indicators directly to the chart online - in two clicks. The possibilities are endless!

Technical Analysis Silver



Silver Technical Analysis widget is a modern handy tool that shows ratings based on technical indicators data. The design of the widget is made in the form of a speedometer, thanks to which you can quickly see the results of the summary technical analysis. You no longer need to use many indicators for analyzing financial instruments, the widget will do it for you. In addition, all rating data are updated in real time. These technical indicators are used for technical analysis: Relative Strength Index, Stochastic, Commodity Channel Index, Average Directional Index, Awesome Oscillator, Momentum, MACD, Stochastic RSI, Williams Percent Range, Bull Bear Power, Ultimate Oscillator, Exponential Moving Average, Simple Moving Average, Ichimoku Cloud Base Line, Volume Weighted Moving Average, Hull Moving Average.

About Silver

For trading silver on the stock exchange, futures contracts and options are most often used as the most convenient tool for profiting from changes in its price.

Silver futures are traded on several commodity exchanges - NYMEX, COMEX, CME, ICE, LME.

NYMEX (business hours 08:10-15:20 New York time (GMT-04:00 and GMT-05:00 in winter)) and COMEX (08:00-13:30 New York time). The division is arbitrary, since both NYMEX and COMEX are components of the CME Group conglomerate.

The contract ticker on the Chicago Mercantile Exchange (CME) is SI, its volume is 5,000 troy ounces, and silver is quoted in US dollars.

The minimum step is $0.005 per troy ounce or $25 per 1 contract. According to the rules, futures are quoted for 3 consecutive months (current + 2 next), as well as in any January, March, May or September in the next 23 months and in any July or December in the next 60 months.

Similar futures are traded on the Intercontinental Exchange (ICE). In addition, on many sites there are mini-contracts with a reduced lot.

For example, on the CME it has the ticker QI and is 2500 ounces, half the size of a standard lot. Step $0.0125 per ounce or $31.25 per contract.

On the London Metal Exchange (LME), contracts are traded under the ticker AG and have the same volume of 5,000 ounces.

On the Tokyo Commodity Exchange (TOCOM), silver futures have a number of differences. First of all, they have a numerical ticker of 12, and their volume is 10 kilograms. The currency of settlements on them is also not dollars, but yen.

In addition to the listed futures, there is also trading on the currency exchange. In this case, we are talking about the XAGUSD pair.


Review

The largest silver mining countries are:
  • Peru;
  • China;
  • Russia;
  • Poland;
  • Australia;
  • Chile;
  • Bolivia;
  • Argentina;
  • USA.

As for the price of silver, over the past 10 years it has not risen in price and updated the lows over and over again.

When analyzing the silver market, consider:

Silver is driven relative to gold. The fact is that companies developing deposits deal with 3-4 precious metals at the same time. Gold is a more popular commodity, if the price of it rises, then the production capacity of gold miners will also grow, then attention will be paid to silver.

The situation in the countries leading in silver mining. If, for example, a coup d'état occurs in Mexico, this will immediately affect the price of the precious metal. The cost will include an uncertainty factor.

Seasonal factor. For example, during the wedding period in India, due to an increase in demand for gold, an empty place is created in the precious metals market, which can be occupied by silver.

The general state of the world economy. The main consumption of silver falls on the industry, so in times of crisis, silver does not grow as rapidly as gold. Investors are in no hurry to transfer capital into it.

The price of silver depends on the balance of supply and demand. For a sharp increase, an equally sharp increase in demand for the precious metal is needed.

Also, the silver rate today depends on information about the discovery of new deposits.

The course may be affected by breakthroughs in the chemical industry, for example, making it possible to recover silver from waste.

Industry and Silver

The physical properties make it possible to use the metal in the manufacture of electrical contacts of complex equipment, elements for microwave technology, mirrors, the food industry (the additive E174 is based on silver) and other products.

In everyday life, coins are minted from this metal, jewelry and cutlery are made.

Due to its high light sensitivity, silver is used in photography.

The chemical properties of the metal make it possible to use it as a catalyst in oxidation reactions, for the manufacture of batteries, explosives, and also in gas mask filters.

Silver iodide can even be used to disperse clouds. Relatively recently, silver began to be actively used in the textile industry for the manufacture of special fabrics.

Of course, significant amounts of silver are stored in the form of bars in the state gold and foreign exchange reserves, and are also used as an investment asset both in short-term trading and for long-term investments.


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Comments

Silver price forecast for February 16, 2024

SILVER uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 21.819 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the SILVER pair.

Silver price forecast for February 16, 2024

SILVER LONG FROM SUPPORT

SILVER LONG FROM SUPPORT

We are now examining the SILVER pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 24.394 level.

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