Silver 4 Hour Price Update
Updated October 02, 2020 11:17 AM GMT (07:17 AM EST)
23.89 was the closing price of the four-hour candle for Silver, resulting in the current 4 hour candle being one in which price moved up 2.93% ($0.68) from the last 4 hour candle. Silver outperformed all 5 assets in the metals asset class since the last 4 hour candle. Congrats to its holders!
Silver Daily Price Recap
The back and forth price flow continues for Silver, which started today off at 23.89 US dollars, up 2.93% ($0.68) from yesterday. On a relative basis, today was pretty good: Silver bested all 5 of the assets in the metals class 🙂 Below is a daily price chart of Silver.
Silver Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 14 days Silver’s price has gone down 8 them.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Silver for the past day were:
- From goldseek:
@pizdets17 $silj nearly break even on day. $ag higher. The silver price is down over 3%. Usually see the stocks drop harder. Tells me they don’t believe the silver price is going much lower. Sellers exhausted. Stocks are cheap.
- From Northst18363337:
I’ve never deleted a Tweet, but I removed the last one because it was misleading – my screen was displaying yesterdays silver price – my error. Back to the charts…
- From silverquote:
Hong Kong #Silver #Price Morning Session Open: $23.27 USD per oz 2020-10-01 08:30:18 HKT
As for a news story related to Silver getting some buzz:
Posted by SRSrocco
in Energy, Precious Metals
on October 1, 2020 —
The notion that silver is just an “Industrial Metal” was utterly destroyed today as both the copper and oil prices were crushed as silver surged higher. This is precisely what I was looking for as a positive sign showing that silver is now disconnecting itself from the INDUSTRIAL METAL BALL & CHAIN….Today, it was quite an impressive day for silver (and gold) as the metals surged higher while copper, the king industrial metal, got destroyed. Here is a chart of the copper price versus silver….With the U.S. oil price falling $2 in one day, that just wiped out $21 million in oil revenues to the oil companies. This is also terrible news for the U.S. Shale Oil Industry is being held together by DUCT TAPE, BAILING WIRE, and ELMERS GLUE….A $2.00 decline in the oil price IN ONE DAY, destroys $21 million in oil revenues in the U.S. domestic oil industry….Got no silver ?
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