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Silver Aug '24 (SIQ24)

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Silver Futures Market News and Commentary

Dollar Slides on the Outlook for Fed Rate Cuts

The dollar index (DXY00) Wednesday fell by -0.31% and posted a new 7-1/2 month low.  Strength in stocks Wednesday reduced liquidity demand for the dollar.  Also, the larger-than-expected downward revision to US payrolls for the year ended in March showed less job growth in the US labor market than was initially reported, a dovish factor for Fed policy.  The dollar sank to its lows Wednesday afternoon when the July 30-31 FOMC meeting minutes showed that a "vast majority" of officials saw a rate cut in September as likely appropriate. 

The US Bureau of Labor Statistics (BLS) revised US payrolls down by -818,000 for the year through March, a bigger decline than expectations of -600,000 and the largest downward revision since 2009, signaling less job growth than was originally reported.

The minutes of the July 30-31 FOMC meeting stated that "several" officials saw the case for cutting interest rates at the July meeting, but a "vast majority" of officials saw a rate cut in Se... 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
07/31/24
Expiration Date
08/28/24 (6 days)

Seasonal Chart

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

Commitment of Traders Positions as of Aug 13, 2024

View Chart Details
Commercials - Long / Short
38,079 (+3,775)
104,855 (+920)
Non-Commercials - Long / Short
61,458 (-3,116)
16,169 (+676)
Producers - Long / Short
4,603 (+198)
37,404 (-11)
Swap Dealers - Long / Short
24,231 (+17)
58,206 (-2,629)
Managed Money - Long / Short
35,805 (-732)
12,471 (+318)
Other Reportables - Long / Short
25,653 (-2,384)
3,698 (+358)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
26.695 +10.42%
on 08/07/24
29.955 -1.60%
on 08/20/24
+0.342 (+1.17%)
since 07/19/24

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Most Recent Stories

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As an interest rate cut looms on the horizon, these dividend-paying gold stocks can be solid additions to your portfolio.

GCY00 : 2,504.95 (-0.28%)
GCZ24 : 2,540.2 (-0.29%)
NEM : 51.87 (+0.82%)
SIU24 : 29.575 (+0.14%)
HGU24 : 4.1620 (-0.67%)
AEM : 82.70 (+0.80%)
GOLD : 20.62 (+1.03%)
Dollar Slides on the Outlook for Fed Rate Cuts

The dollar index (DXY00 ) Wednesday fell by -0.31% and posted a new 7-1/2 month low. Strength in stocks Wednesday reduced liquidity demand for the dollar. Also, the larger-than-expected downward revision...

DXY00 : 101.239 (+0.20%)
^EURUSD : 1.11439 (-0.06%)
^USDJPY : 145.772 (+0.35%)
GCZ24 : 2,540.2 (-0.29%)
SIU24 : 29.575 (+0.14%)
Dollar Remains Weak Ahead of Annual BLS Payroll Revisions

The dollar index (DXY00 ) today is down by -0.03% and posted a new 7-1/2 month low. Strength in stocks today has reduced liquidity demand for the dollar. Also, speculation that the US Bureau of Labor...

DXY00 : 101.239 (+0.20%)
^EURUSD : 1.11439 (-0.06%)
^USDJPY : 145.772 (+0.35%)
GCZ24 : 2,540.2 (-0.29%)
SIU24 : 29.575 (+0.14%)
Gold/Silver: Payroll Revision Data due out – Roll Silver to Dec – Metals Minute w/ Phil Streible

Get exclusive insights into your favorite Precious Metals, stay informed about overnight developments, and receive expert analysis on key market trends to watch each trading day.

Dollar Falls and Gold Rallies on the Outlook for Lower US Interest Rates

The dollar index (DXY00 ) Tuesday fell by -0.44% and posted a new 7-1/2 month low. Lower T-note yields Tuesday weighed on the dollar. Also, the euro's strength undercut the dollar as EUR/USD rose to...

DXY00 : 101.239 (+0.20%)
^EURUSD : 1.11439 (-0.06%)
^USDJPY : 145.772 (+0.35%)
GCZ24 : 2,540.2 (-0.29%)
SIU24 : 29.575 (+0.14%)
Gold, Silver, Copper: An Optimistic Outlook?

Gold, silver and copper are all either undersupplied now or will likely be in the near future. The CME Group Metals complex provides market participants with futures and options to manage risk.

Dollar Falls and Pushes Gold to a Record High

The dollar index (DXY00 ) today is down by -0.18% and posted a new 7-1/2 month low. Lower T-note yields today are weighing on the dollar. Also, the euro's strength is undercutting the dollar as EUR/USD...

DXY00 : 101.239 (+0.20%)
^EURUSD : 1.11439 (-0.06%)
^USDJPY : 145.772 (+0.35%)
GCZ24 : 2,540.2 (-0.29%)
SIU24 : 29.575 (+0.14%)
Gold/Silver: How to Trade All-Time Highs – What to Watch

Unlock insider insights into your favorite Precious Metals, stay updated on overnight developments, and get expert analysis on what to watch for in the market each trading day.

Down 42% YTD, Is It Time to Buy the Dip in This Dividend Aristocrat?

Weak earnings combined with oversupply issues continue to hammer the share price of this lithium producer.

LMQ24 : 10.93s (-0.18%)
ALB : 88.60 (+5.20%)
LIT : 37.80 (+3.56%)
BMWYY : 31.0500 (+1.70%)
Dollar Tumbles to a 7-1/2 Month Low on Expectations of a Dovish Fed

The dollar index (DXY00 ) Monday fell by -0.56% and posted a 7-1/2 month low. The dollar came under pressure Monday on dovish comments from San Francisco Fed President Daly and Minneapolis Fed President...

DXY00 : 101.239 (+0.20%)
^EURUSD : 1.11439 (-0.06%)
^USDJPY : 145.772 (+0.35%)
GCZ24 : 2,540.2 (-0.29%)
SIU24 : 29.575 (+0.14%)

Key Turning Points

3rd Resistance Point 29.476
2nd Resistance Point 29.476
1st Resistance Point 29.476
Last Price 29.476s
1st Support Level 29.476
2nd Support Level 29.476
3rd Support Level 29.476

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52-Week High 31.840
Fibonacci 61.8% 29.875
Last Price 29.476s
Fibonacci 50% 29.268
Fibonacci 38.2% 28.660
52-Week Low 26.695

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