{"id":138945,"date":"2024-10-28T10:12:36","date_gmt":"2024-10-28T10:12:36","guid":{"rendered":"https:\/\/kinesis.money\/?p=138945"},"modified":"2024-10-28T10:12:39","modified_gmt":"2024-10-28T10:12:39","slug":"silver-ends-week-back-foot","status":"publish","type":"post","link":"https:\/\/kinesis.money\/fr\/market-analysis\/silver-news\/silver-ends-week-back-foot\/","title":{"rendered":"Silver Price News: Silver Ends Week on Back Foot"},"content":{"rendered":"\n

Silver prices ended the week on a quiet note, showing little convincing movement in either direction on a day-on-day basis, and ending slightly into negative territory over the week as a whole.<\/p>\n\n\n\n

Prices eased very slightly to around $33.60 an ounce by Friday evening, compared with around $33.70 an ounce in late trades on Thursday. Silver did briefly spike higher to a 12-year high of $36.73 an ounce in the middle of the week, but this appeared to be an outlier trade that was not supported by sustainable volumes and the gains could not be sustained at those levels.<\/p>\n\n\n

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\"silver
Silver KAG\/USD 1-hourly Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

Silver\u2019s performance through the week had a slightly bearish slant, contrasting with gold, which not only set a new all-time high on Wednesday, but finished the week in positive territory compared with Monday.<\/p>\n\n\n\n

Stronger dollar weighs on silver<\/h2>\n\n\n\n

While silver\u2019s 12-year highs may have attracted some profit-taking towards the end of the week, part of the downward pressure may have emanated from the US dollar, which has strengthened against other major currencies so far in October. This makes dollar-denominated silver more expensive for buyers in other currencies, weakening demand. In addition, yields on US 10-year treasury notes strengthened through the week, contributing to downside pressure on silver prices.<\/p>\n\n\n\n

Precious metals in bullish mood<\/h2>\n\n\n\n

Overall though, silver remains supported by strength in the gold price, and both metals have benefited from safe haven flows due to current macroeconomic and geopolitical uncertainties and a loosening of monetary policy by major central banks around the world, which is widely expected to continue in the coming months.<\/p>\n\n\n\n

Technical analysis<\/h2>\n\n\n\n

On the technical charts, the recent highs for silver may now translate into an upside resistance level at $34.99 an ounce, while horizontal major support can be seen at $32.12 an ounce. The latest action has left silver prices some way above their 20-day moving average at $31.19 an ounce, while the 10-day Relative Strength Index at 64 may indicate that silver is not yet in overbought territory.<\/p>\n\n\n\n

Upcoming data to watch out for<\/h2>\n\n\n\n

Monday is looking somewhat thin on macroeconomic data releases and traders are likely to be looking ahead to Tuesday\u2019s US JOLTS job openings and CB consumer confidence figures for the latest snapshot on the state of the US economy.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
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Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Silver prices ended the week on a quiet note, showing little convincing movement in either direction on a day-on-day basis, and ending slightly into negative territory over the week as a whole. Prices eased very slightly to around $33.60 an ounce by Friday evening, compared with around $33.70 an ounce in late trades on Thursday. […]<\/p>\n","protected":false},"author":50,"featured_media":138991,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-138945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Price News: Silver Ends Week on Back Foot - Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver price news analysis for today, Monday 28th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Price News: Silver Ends Week on Back Foot\" \/>\n<meta property=\"og:description\" content=\"Discover Kinesis' silver price news analysis for today, Monday 28th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-ends-week-back-foot\/\" \/>\n<meta property=\"og:site_name\" content=\"Kinesis\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-28T10:12:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-28T10:12:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/10\/silver-news-feature-silver-ends-week-on-back-foot.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"529\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Frank Watson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:description\" content=\"Discover Kinesis' silver price news analysis for today, Monday 28th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"Frank Watson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-ends-week-back-foot\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-ends-week-back-foot\/\"},\"author\":{\"name\":\"Frank Watson\",\"@id\":\"https:\/\/kinesis.money\/#\/schema\/person\/11c4884f9d074d6831f53e287228bf52\"},\"headline\":\"Silver Price News: Silver Ends Week on Back Foot\",\"datePublished\":\"2024-10-28T10:12:36+00:00\",\"dateModified\":\"2024-10-28T10:12:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-ends-week-back-foot\/\"},\"wordCount\":388,\"image\":{\"@id\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-ends-week-back-foot\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/10\/silver-news-feature-silver-ends-week-on-back-foot.jpg\",\"articleSection\":[\"Silver News\"],\"inLanguage\":\"fr-FR\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/kinesis.money\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-ends-week-back-foot\/\",\"url\":\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-ends-week-back-foot\/\",\"name\":\"Silver Price News: Silver Ends Week on Back Foot - 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