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Silver Micro Jan '24 (SOF24)

23.138s +0.383 (+1.68%) 01/29/24 [COMEX]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Mon, Jan 29th, 2024
Day Low
23.138
Day High
23.138
Open 0.000
Previous Close 22.755 22.755
Volume 0 0
Open Interest 60 60
Stochastic %K 72.50% 72.50%
Weighted Alpha -2.90 -2.90
5-Day Change +0.975 (+4.40%) +0.975 (+4.40%)
52-Week Range 20.912 - 26.879 20.912 - 26.879
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Silver Micro Futures Market News and Commentary

Dollar Gains on Weak Stocks and Q1 Price Pressures

The dollar index (DXY00) today is up by +0.28%.  Today's stock slump has boosted liquidity demand for the dollar. Also, today's news that showed the Q1 core PCE price index rose more than expected is hawkish for Fed policy and dollar supportive.  The dollar fell back from its best levels on signs of weakness in the US labor market after the Apr ADP employment change rose less than expected.  The dollar was also pressured after the US economy contracted more than expected in Q1.

The US Apr ADP employment change rose +62,000, weaker than expectations of +115,000 and the smallest increase in 9 months.

US Q1 GDP fell -0.3% (q/q annualized), weaker than expectations of -0.2% and the steepest pace of contraction in 3 years.  The Q1 core PCE price index rose +3.5% q/q, stronger than expectations of +3.1% q/q.

The US Q1 employment cost index rose +0.9%, right on expectations.

The US Apr MNI Chicago PMI fell -3.0 to 44.6, weaker than expectations of 45.9.

US Mar... Read more

Contract Specifications

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Contract
E-Micro Silver
Contract Size
1,000 troy ounces
Tick Size
$0.005 per troy ounce ($5.00 per contract) (Settlement $0.001)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 12:25p.m.) CST
Exchange
COMEX
Point Value
$1,000
Margin/Maintenance
$2,860/2,600
First Notice Date
12/29/23
Expiration Date
01/29/24 (expired)

Seasonal Chart

Silver Micro Jan '24
Average Price Chart for 5 Prior Jan Contracts
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Price Performance

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Period Period Low Period High Performance
1-Month
22.163 +4.40%
on 01/22/24
Period Open: 23.853
24.125 -4.09%
on 01/02/24
-0.715 (-3.00%)
since 12/29/23
3-Month
22.075 +4.82%
on 11/13/23
Period Open: 23.011
26.025 -11.09%
on 12/04/23
+0.127 (+0.55%)
since 10/27/23
52-Week
20.912 +10.64%
on 03/08/23
Period Open: 24.529
26.879 -13.92%
on 05/04/23
-1.391 (-5.67%)
since 01/27/23

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Most Recent Stories

More News
Shrinking Economy, Sliding Copper, and Gold’s Outlook

Slide in copper, anyone? FCX? Or terrible jobs / GDP readings? We’ve got all of those today.

Dollar Gains on Weak Stocks and Q1 Price Pressures

The dollar index (DXY00 ) today is up by +0.28%. Today's stock slump has boosted liquidity demand for the dollar. Also, today's news that showed the Q1 core PCE price index rose more than expected is...

DXY00 : 99.495 (+0.26%)
GCM25 : 3,311.8 (-0.65%)
SIN25 : 32.855 (-2.15%)
^USDJPY : 142.906 (+0.39%)
^EURUSD : 1.13474 (-0.34%)
Metals Collapse Overnight! Correction or Something Bigger?

Phil Streible breaks down the sharp overnight drop in precious metals—was it just a healthy pullback or the start of a deeper move? Don’t miss today’s Metals Minute!

Dollar Rises on Expectations of Tariff Relief

The dollar index (DXY00 ) Tuesday rose by +0.19%. The dollar posted moderate gains on Tuesday amid tariff relief expectations after the Wall Street Journal reported that President Trump will ease auto...

DXY00 : 99.495 (+0.26%)
GCM25 : 3,311.8 (-0.65%)
SIN25 : 32.855 (-2.15%)
^USDJPY : 142.906 (+0.39%)
^EURUSD : 1.13474 (-0.34%)
Two Indicators To Watch for Silver & Copper's Next Move!

Phil Streible highlights the technical and fundamental signals that could determine whether silver and copper extend their rallies or hit resistance—tune into today’s Metals Minute!

Dollar Retreats on Economic Uncertainty

The dollar index (DXY00 ) Monday fell by -0.52%. The dollar today gave up an early advance and turned lower on economic concerns after the Apr Dallas Fed manufacturing survey of general business activity...

DXY00 : 99.495 (+0.26%)
GCM25 : 3,311.8 (-0.65%)
SIN25 : 32.855 (-2.15%)
^USDJPY : 142.906 (+0.39%)
^EURUSD : 1.13474 (-0.34%)
Silver Stays Resilient as Gold Wobbles. More Upside Is Likely Ahead.

The silver market hit a three-week high on Friday, April 25.

$DXY : 99.50 (+0.26%)
DXM25 : 99.285 (+0.27%)
SIK25 : 32.605 (-2.01%)
GCM25 : 3,311.8 (-0.65%)
Dollar Erases Early Gains on Economic Concerns

The dollar index (DXY00 ) today is down by -0.09%. The dollar today gave up an early advance and turned lower on economic concerns after the Apr Dallas Fed manufacturing survey of general business activity...

DXY00 : 99.495 (+0.26%)
GCM25 : 3,311.8 (-0.65%)
SIN25 : 32.855 (-2.15%)
^USDJPY : 142.906 (+0.39%)
^EURUSD : 1.13474 (-0.34%)
Three Straight Weeks of Gains In Silver! Can it Continue?

Silver extends its winning streak—Phil Streible breaks down the momentum, key resistance levels, and what could fuel the next move in today’s Metals Minute!

Lessons for Gold Investors from USDX, Bitcoin and Gold Stocks

The markets are relatively calm today, but don’t let that fool you. They are about to MOVE.

Dollar Slightly Higher on Possible Tariff Relief

The dollar index (DXY00 ) Friday rose by +0.11%. The dollar posted modest gains Friday in hopes of de-escalation of the US-China trade war. Bloomberg reported Friday that the Chinese government is considering...

DXY00 : 99.490 (+0.25%)
GCM25 : 3,312.4 (-0.64%)
SIN25 : 32.860 (-2.14%)
^USDJPY : 142.898 (+0.38%)
^EURUSD : 1.13481 (-0.33%)
Dollar Gains on Hopes of De-Escalation of US-China Trade Conflict

The dollar index (DXY00 ) today is up by +0.25%. The dollar is trading higher today in hopes of de-escalating the US-China trade war. Bloomberg reported that the Chinese government is considering suspending...

DXY00 : 99.490 (+0.25%)
GCM25 : 3,312.4 (-0.64%)
SIN25 : 32.860 (-2.14%)
^USDJPY : 142.898 (+0.38%)
^EURUSD : 1.13481 (-0.33%)
Dollar Weakens as Tariff Concerns Persist

The dollar index (DXY00 ) Thursday fell by -0.49%. The dollar posted moderate losses Thursday because of concerns that the US-China trade war will drag on after China said there were no talks on reaching...

DXY00 : 99.490 (+0.25%)
GCM25 : 3,312.4 (-0.64%)
SIN25 : 32.860 (-2.14%)
^USDJPY : 142.898 (+0.38%)
^EURUSD : 1.13481 (-0.33%)
Dollar Falls on Signs the US-China Trade War Will Linger

The dollar index (DXY00 ) today is down by -0.51%. The dollar is moderately lower today because of concerns that the US-China trade war will drag on after China said there were no talks on reaching a...

DXY00 : 99.490 (+0.25%)
GCM25 : 3,312.4 (-0.64%)
SIN25 : 32.860 (-2.14%)
^USDJPY : 142.898 (+0.38%)
^EURUSD : 1.13481 (-0.33%)
The Dip Buyers In Gold are Back! - Silver's Time to Shine?

Gold catches a bid as bargain hunters step in—can silver follow with a breakout of its own? Phil Streible breaks down the setup in today’s Metals Minute.

The Dip Buyers In Gold are Back! - Silver's Time to Shine?

Gold catches a bid as bargain hunters step in—can silver follow with a breakout of its own? Phil Streible breaks down the setup in today’s Metals Minute.

Dollar Rallies as Trade Tensions Ease and Trump Says He Won't Fire Powell

The dollar index (DXY00 ) Wednesday rose by +0.87%. The dollar rallied Wednesday due to an easing of the harsh trade rhetoric against China after President Trump said he plans to be "very nice" to China...

DXY00 : 99.490 (+0.25%)
GCM25 : 3,312.4 (-0.64%)
SIN25 : 32.860 (-2.14%)
^USDJPY : 142.898 (+0.38%)
^EURUSD : 1.13481 (-0.33%)
Can Silver Rally if Gold Continues to Crash? The Driver

Gold pulls back sharply—but can silver break away and shine on its own? Phil Streible dives into the key technicals, macro drivers, and trader positioning in today’s Metals Minute.

Dollar Gains on President Trump’s Softer Tone on Trade and Fed Independence

The dollar index (DXY00 ) today is up by +0.57%. The dollar is climbing today due to an easing of the harsh trade rhetoric against China after President Trump said he plans to be “very nice” to China...

DXY00 : 99.490 (+0.25%)
GCM25 : 3,312.4 (-0.64%)
SIN25 : 32.860 (-2.14%)
^USDJPY : 142.898 (+0.38%)
^EURUSD : 1.13481 (-0.33%)
Elliott Wave Live: Gold At Extreme, Is Silver Next?

Stocks were firstly down on Monday, as market was again dealing with uncertainty, as there were talk by Trump who want someone who will replace Powell, who will more likely to cut rates. But if the Fed’s...

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 23.138
2nd Resistance Point 23.138
1st Resistance Point 23.138
Last Price 23.138s
1st Support Level 23.138
2nd Support Level 23.138
3rd Support Level 23.138

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52-Week High 26.879
Fibonacci 61.8% 24.600
Fibonacci 50% 23.896
Fibonacci 38.2% 23.191
Last Price 23.138s
52-Week Low 20.912

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