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Silver Mar '24 (SIH24)

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Silver Futures Market News and Commentary

Dollar Slightly Lower as T-note Yields Fall

The dollar index (DXY00) today is slightly lower by -0.11%.  The dollar is being undercut by today's -6.5 bp decline in the 10-year T-note yield, which undercut the dollar's interest rate differentials. 

The dollar is also being undercut as the markets this week slightly boosted the odds for a rate cut at next week's meeting to 7% from 3% on Monday, while the markets are now expecting a 100% chance of a rate cut at the following meeting on September 17-18, up from 97% on Monday.

The main bullish factor for the dollar is today's US economic reports, which were mostly stronger than expected. 

US Q2 real GDP rose +2.8% (y/y annualized), stronger than expectations of +2.0% and up from Q1's growth rate of +1.4%.  In addition, Q3 personal consumption rose +2.3%, stronger than expectations of +2.0% and up from Q1's growth rate of +1.5%.  The GDP report helped to ease market fears about reduced consumer spending and a slowing economy.  The inflation news in the report was... 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
$12,650/11,500
First Notice Date
02/29/24
Expiration Date
03/27/24 (expired)

Seasonal Chart

Silver Mar '24
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Jul 16, 2024

View Chart Details
Commercials - Long / Short
33,181 (-315)
116,916 (-1,370)
Non-Commercials - Long / Short
85,005 (+654)
24,840 (+1,545)
Producers - Long / Short
2,794 (-487)
43,342 (-1,303)
Swap Dealers - Long / Short
25,017 (-562)
68,204 (-801)
Managed Money - Long / Short
55,858 (+686)
19,183 (+1,913)
Other Reportables - Long / Short
29,147 (-32)
5,657 (-368)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
22.245 +10.06%
on 02/28/24
25.735 -4.86%
on 03/21/24
+1.957 (+8.69%)
since 02/26/24
3-Month
21.975 +11.41%
on 02/14/24
25.735 -4.86%
on 03/21/24
+0.087 (+0.36%)
since 12/26/23
52-Week
21.170 +15.65%
on 10/04/23
27.200 -9.99%
on 05/05/23
+0.332 (+1.37%)
since 03/24/23

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Most Recent Stories

More News
Gold to NOT Rally After the Rate Cut

What? Shouldn’t gold decline after the rates are lowered? It can, but it can also decline, and the latter is actually more likely.

Dollar Slightly Lower as T-note Yields Fall

The dollar index (DXY00 ) today is slightly lower by -0.11%. The dollar is being undercut by today's -6.5 bp decline in the 10-year T-note yield, which undercut the dollar's interest rate differentials....

DXY00 : 104.285 (-0.10%)
^EURUSD : 1.08613 (+0.20%)
^USDJPY : 154.280 (+0.25%)
GCQ24 : 2,359.4 (-2.33%)
SIU24 : 28.020 (-4.42%)
Gold/Silver: Bloodbath Overnight! - What to Watch

Discover insider insights on your favorite Precious Metals, uncover overnight developments, and gain expert analysis on what to watch for every trading day.

3 Gold ETFs That Could Surge Higher on a September Rate Cut

As gold prices hover around new highs, fueled by expectations of a September rate cut, investors can capitalize on this golden opportunity through ETFs such as SPDR Gold Shares, ProShares Ultra Gold, and...

GCQ24 : 2,359.4 (-2.33%)
GCY00 : 2,359.41 (-1.61%)
$SPX : 5,469.47 (+0.78%)
SIU24 : 28.020 (-4.42%)
SIY00 : 27.8648 (-3.62%)
GCQ24 : 2,359.4 (-2.33%)
GLD : 218.36 (-1.55%)
UGL : 78.75 (-3.24%)
CEF : 21.88 (-2.36%)
Dollar Slightly Lower on Weak US Economic Reports

The dollar index (DXY00 ) on Wednesday fell slightly by -0.06%. The main bearish factor was the weak US manufacturing PMI and new home sales reports. The dollar partially recovered from early losses...

DXY00 : 104.285 (-0.10%)
^EURUSD : 1.08613 (+0.20%)
^USDJPY : 154.280 (+0.25%)
GCQ24 : 2,359.4 (-2.33%)
SIU24 : 28.020 (-4.42%)
Dollar Falls on Weak US Economic Reports and Lower T-note Yields

The dollar index (DXY00 ) is down -0.24% on lower T-note yields and weak US economic reports. The 10-year T-note yield is down -2.3 bp at 4.227%. The preliminary-July S&P US manufacturing PMI fell by...

DXY00 : 104.285 (-0.10%)
^EURUSD : 1.08613 (+0.20%)
^USDJPY : 154.280 (+0.25%)
GCQ24 : 2,359.4 (-2.33%)
SIU24 : 28.020 (-4.42%)
Dollar Rises Slightly as Political Factors Continue to Buffet the FX Markets

The dollar index (DXY00 ) on Tuesday rose slightly by +0.14% as US political factors continued to buffet the FX markets. Bearish factors for the dollar include Tuesday’s -1.0 bp decline in the 10-year...

DXY00 : 104.285 (-0.10%)
^EURUSD : 1.08613 (+0.20%)
^USDJPY : 154.280 (+0.25%)
GCQ24 : 2,359.4 (-2.33%)
SIU24 : 28.020 (-4.42%)
Copper (HG) Double Three Elliott Wave Correction in Progress

Short Term Elliott Wave View in Copper (HG) suggests that correction from 5.20.2024 high remains in progress. The internal subdivision of the correction is unfolding as a double three Elliott Wave structure....

Dollar Slightly Higher as Political Factors Continue to Buffet the FX Markets

The dollar index (DXY00 ) is trading slightly higher by +0.18% as US political factors continue to buffet the FX markets. Bearish factors for the dollar today include today’s -2.5 bp decline in the...

DXY00 : 104.285 (-0.10%)
^EURUSD : 1.08613 (+0.20%)
^USDJPY : 154.280 (+0.25%)
GCQ24 : 2,359.4 (-2.33%)
SIU24 : 28.020 (-4.42%)
Gold/Silver: Gold Snap Back ahead of Seasonal Move!

Dive into today’s Metals Minute for crucial levels and exciting trade insights on your favorite Precious Metals, overnight happenings, and must-watch highlights for every trading day!

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 24.761
2nd Resistance Point 24.706
1st Resistance Point 24.594
Last Price 24.483s
1st Support Level 24.427
2nd Support Level 24.372
3rd Support Level 24.260

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52-Week High 27.200
Fibonacci 61.8% 24.897
Last Price 24.483s
Fibonacci 50% 24.185
Fibonacci 38.2% 23.473
52-Week Low 21.170

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