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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
RLinda ! GOLD-> Gold forms an upward channel on the 1W TimeframeGold, tentatively, is forming an upward price channel on the global weekly chart, which is aiming toward $2000-$2100. Gold prices rose Monday and held near a seven-month high, supported by a weaker dollar and hopes that the Federal Reserve might slow the pace of interest rate hikes. U.S. output fell in December for the first time in more than 2-1/2 years amid weakening demand, further evidence of weakening inflation. Higher interest rates make gold less attractive as an inflation hedge and raise the opportunity cost of holding non-revenue-producing bullion. Retail purchases of gold in major Asian centers were slow amid rising prices early last week, while China, a major consumer, saw demand rise amid a resumption of work and the approaching Lunar New Year holiday. Softer U.S. data on Friday boosted gold's appeal. The data suggests that the Fed's cumulative tightening in 2022 is starting to affect the economy, and that the Fed can afford to slow the pace of tightening The yield on the 2-year UST fell sharply after the release of the Business Activity Index data. Gold is closely tied to short-term U.S. bond yields: any rise in yields causes the gold price to fall and vice versa. As expectations of a U.S. rate hike decrease - the probability of a 25 basis point hike at the February meeting is now 76% - markets are questioning the credibility of the Fed. CPI data this week will be key. Another slowdown in price pressures could boost appetite for gold, while the dollar will remain under pressure. However, an unexpected rise in CPI could undermine sentiment The latest U.S. jobs report showed more job creation than expected, but hourly earnings data showed a slowdown in wage growth, something the Fed was sure to pay attention to. The Fed also turned its attention to the latest U.S. ISM non-manufacturing sector data, which was a wake-up call as the index unexpectedly returned to contraction territory in December. This is the first decline in the U.S. services sector since May 2020, when the global economy was covid In terms of technical analysis, on the main chart, I pointed out key elements such as A rising price channel Downtrending price channel (from which the price recently exited) Trade range 1680-2075 The bulls brought the price to a strong resistance level of 1878, but at the same time the volume profile considers this area to be empty. At the same time, at the 1878 level, I noted 10 confirmations of this zone and price reaction to the resistance. The expected reaction is a pullback to the upward channel support, confirmation of the support line and continuation of growth in the medium and long term. The next scenario - calm price growth to 1900, rollback to 1878, fixation of the price in the long zone and continuation of growth in the uptrend channel Regards R. Linda!
OANDA:XAUUSD
by RLinda
23
RLinda ! GOLD-> H&S formation stage. What to expect?Gold is down 2.2% from its high. Technically, this is a reaction to a false breakout of strong resistance. What's next? Yesterday I told you, there is a high probability of a technical pullback, the price goes down towards 1824, but it does not reach the zone, so the technical pullback forms and the price draws an interesting "Head & Shoulders" pattern, based on the false-break and the resistance. I think that if this pattern holds, the price can reach both 1824 and 1807 in the nearest future. The situation is tricky, if the price breaks 1843 and rallies above it, there is a chance of rising to 1858 and trying to break the resistance at 1858. But if the right shoulder of the "Head & Shoulders" pattern confirms, if the price consolidates under 1843, there is a chance to go down to 1807 Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
14
RLinda ! GOLD-> Is distribution over? A rebound after FB?Gold reaches the first important mark of 1858, but the resistance zone, tentatively, stops the distributive movement. There might be a technical pullback phase. Gold makes a false breakdown of the consolidation resistance zone and the level of 1858, at the moment we see the price consolidation in the short zone, thus, the price opens the way down to the 1840, 1820 zone I expect that after a strong rise, gold may weaken a bit. After the end of the consolidation under 1858, I expect the price to fall. The first target is 1840, the second target is 1821. Regards to R. Linda!
OANDA:XAUUSDShort
by RLinda
33
Silver’s rally has been strong, but a pullback could be dueI do not expect this to be a popular view, given the excitement of the rally on metals in general in recent weeks. But no trend lasts forever and we’ve not really seen much of a pullback on silver prices lately. Besides, silver has risen nearly 40% since the September low and fast approaching the upper trendline from a wide (slightly bearish) channel. The tendline also resides near the monthly R1 pivot and $25. Prices are holding above trend support on the daily chart, but a bearish divergence has been forming with the RSI (14) as its rally has lost steam over the past couple of weeks. A bearish pinbar also suggests bulls are losing control, so we’re now waiting to either see momentum turn lower or provide a series of bearish reversal candles below $25. The main issue with trying to pick turning points are it can leave one vulnerable to a series of false entries and/or giving up before the turn. Therefore, bears may want to use smaller positions with a wider stop, and fade into spikes below $25 before increasing exposure if momentum does finally turn lower. Alternatively, bears could wait for a break beneath the monthly pivot point to confirm a trend reversal on the daily chart.
FX_IDC:XAGUSDShort
by CityIndex
Silver - Potential for correctionSilver - Intraday - We look to Sell at 24.08 (stop at 24.38) 2 negative daily performances in succession. Buying posted in Asia. Intraday, and we are between bespoke support and resistance 23.21-24.08. The bias remains mildly bullish but there is scope for a move in either direction at the open. Our profit targets will be 23.21 and 21.56 Resistance: 24.08 / 24.26 / 24.93 Support: 23.21 / 22.54 / 21.56 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
VANTAGE:XAGUSDShort
by VantageMarkets
SILVER falling wedge breakoutPlease 1st of all click the boost🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free. XAGUSD backtested twice the previously broken violet downtrendline (zoom out) and it held as support. Price recently bounced up and now breaking the falling wedge. If the break is successful then we could see price rising to the resistance @ 26.21. GOLD/SILVER ratio (see chart below) reached strong resistance and now dropping hard (as predicted) meaning that silver is stronger than gold. This is usually the case in metals bull market, silver is just high beta version of gold (aka gold on steroids). Are the metals bulls around the corner? Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
FX_IDC:XAGUSDLong
by bizmark
7
RLinda ! GOLD-> The price is in a bullish trend. What's next? Gold formed a strong bullish momentum after the release of positive data on consumer inflation in the United States. This fact may positively influence the medium-term dynamics of the markets. Gold updates multi-month highs to 1824.5 The price is trading in an ascending range (price channel). The last few days the gold was in a consolidation between 1807-1765, and yesterday we saw a break-up of the resistance, but a false-break has not happened yet, and the price is still consolidating above 1807.96, which opens a potential upside. I think that if the gold finally consolidates above the resistance, we might get to 1858 in the middle term. But, there is also a scenario of a false-break of 1807.96. If there is a consolidation below that level, the gold might make a technical reversal to the channel support. Regards, R. Linda!
OANDA:XAUUSD
by RLinda
27