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All silver traders need to watch these six data points It's important to stay informed about the market and various data reports that can affect silver prices. Here are some key data reports that traders should watch when trading silver: 1-Gold-silver ratio: The gold-silver ratio is the number of ounces of silver that are needed to purchase one ounce of gold. A high ratio indicates that silver is relatively cheaper compared to gold, while a low ratio means that silver is relatively more expensive. Traders can use this ratio to assess the relative value of silver and make informed buying and selling decisions. 2-Industrial demand: A significant portion of silver is used in industrial applications, such as electrical conductors, batteries, and medical equipment. Therefore, changes in industrial demand can have a significant impact on silver prices. Traders should watch for data on industrial production and manufacturing activity, as well as any news that could affect the demand for silver in these industries. 3-Investment demand: Silver is also used as a safe haven asset and can be bought and sold as a form of investment. Changes in investor sentiment and demand for silver as an investment can have a significant impact on prices. Traders should watch for data on investment demand, such as the level of silver holdings in exchange-traded funds (ETFs) and the level of silver bullion held by central banks. 4-US dollar strength: Silver prices are often inversely correlated with the strength of the US dollar. When the dollar is strong, silver prices tend to be weaker, and vice versa. This is because a stronger dollar makes silver more expensive for buyers using other currencies, which can decrease demand and lower prices. Conversely, a weaker dollar can increase demand for silver and push prices higher. Traders should watch for data on the value of the dollar, such as the US Dollar Index, to assess the strength of the currency and its potential impact on silver prices. 5-Inflation expectations: Silver is often seen as a hedge against inflation, as its value can potentially increase as the purchasing power of money decreases. Therefore, changes in inflation expectations can affect silver prices. Traders should watch for data on inflation, such as the Consumer Price Index (CPI), to assess the likelihood of future price increases and their potential impact on silver. 6-Interest rates: Changes in interest rates can also affect silver prices, as higher interest rates can make it more expensive for traders to hold silver and other commodities. This can decrease demand for silver and put downward pressure on prices. Conversely, lower interest rates can make it cheaper to hold silver and increase demand, potentially pushing prices higher. Traders should watch for data on interest rates, such as the Federal Reserve's benchmark rate, to assess the impact on silver prices.
BLACKBULL:XAGUSD
by BlackBull_Markets
Silver hit our target and ready for the next rally to $27.00 in 2022, Silver hit our target price of $24 this was due to a break up and out of a Triple Bottom (3 Rounding Bottoms). Now we see a new Bullish Diamond formation on Silver. We just need to wait for breakout Target $27.00 Fundamentals: Analysts predict that gold and silver will perform well in the new year as the Federal Reserve is expected to cut interest rates in the second half of 2023. This is due to the belief that a recession is imminent, which will reduce inflationary pressures and lead to falling interest rates. Chief North America economist Paul Ashworth of Capital Economics stated that despite the Fed's current hawkish stance, they still expect interest rates to decline by the end of 2023.
COMEX:SI1!Long
by Timonrosso
Silver Analysis 01.01.2023Hello Traders, welcome to this free and educational analysis. I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities. If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below. I will personally reply to every single comment! If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
OANDA:XAGUSD
by basictradingtv
45
Is Silver preparing for long bull run?Comparing the last 50 years of the Silver chart along with the 80's market top along with the 2011 market top. We can see a clear cup and handle 42 years in the making. Price action is laid over 2 indicators The Extended Golden Ratio Multiplier The CM Ultimate MA MTF The focus of this chart is the pink fib line of the Multiplier and the green & red CM Ultimate MA. I have the focus area circled with what seems to be the interesting point of the chart and indicators. In 1987 the price of silver tired to push back through the MA lines but was rejected and in 89 the pink line followed and kept falling. in 2019 and 2020 try's the same move but this time price action pops through then corrects and so far seems to have found support on the MA lines. At the same time the pink line is crossing the now red CM Ultimate line which historically has happen every time price action has made moves up for months and months afterwards. We also cannot skip or not touch upon the Dragonfly doji caused in the first half of 2020. This too is usually a very indicator that price action could be moving up over the next few candles and beyond. Although Gold to me is showing some signs of weakness, Silver to me at least from this chart looks like a very bullish for possibly next few years. Let me Know what you think down below. Thanks for looking WeAreSat0shi Stay Blessed!
TVC:SILVERLong
by WeAreSat0shi
Silver Levels & Strategy for next few daysDear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading. Sagar Bhai, Silver had an excellent run in last 1 month from below 55K level to 63K plus level. Silver has made LH-Lower High pattern on chart, trading below VWAP. Showing sign of tiredness after decent up move. Silver is likely to consolidate or correct from this level. This is a good time to book profit. 59000 to 60000 should be good range to enter in long position for few months. We are likely to get a chance near next US FED hike when US Dollar Index will get stronger. Please review & share your thoughts as well.
MCX:SILVER1!
by manishmgupta
1