{"id":138828,"date":"2024-10-25T08:56:20","date_gmt":"2024-10-25T08:56:20","guid":{"rendered":"https:\/\/kinesis.money\/?p=138828"},"modified":"2024-10-25T08:56:23","modified_gmt":"2024-10-25T08:56:23","slug":"silver-edges-lower-from-highs","status":"publish","type":"post","link":"https:\/\/kinesis.money\/it\/market-analysis\/silver-news\/silver-edges-lower-from-highs\/","title":{"rendered":"Silver Price News: Silver Edges Lower from 12-Year Highs"},"content":{"rendered":"\n

Silver prices eased slightly lower on Thursday, albeit after briefly rallying to a fresh 12-year high.<\/p>\n\n\n\n

Prices pulled back slightly to a low of $33.28 an ounce, compared with around $33.80 an ounce in late trades on Wednesday. Silver briefly spiked as high as $36.73 an ounce on Thursday, although this did not appear to represent repeatable trade, and prices quickly fell back to around $33.70 an ounce later in the session.<\/p>\n\n\n

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

<\/p>\n\n\n\n

Silver has largely tracked the gold market this week, with the yellow metal hitting a fresh peak on Wednesday, although silver failed to follow gold\u2019s strength on Thursday, seemingly in wait-and-see mode awaiting further direction.<\/p>\n\n\n\n

Silver\u2019s slight downward move on Thursday came in the context of Tuesday\u2019s 12-year high of $34.91 an ounce.<\/p>\n\n\n\n

BRICS nations aim to boost precious metals trading<\/h2>\n\n\n\n

Meanwhile, the BRICS nations intend to increase the turnover of precious metals between the member countries of the bloc, Russian news agency Tass reported on Wednesday, as the nations unveiled a \u2018Kazan Declaration\u2019 during a summit in the southern Russian city this week.<\/p>\n\n\n\n

Technical levels affecting silver<\/h2>\n\n\n\n

On the technical charts, silver remains within the mid-range of a bullish trend channel going back to the early August lows, and the metal could see further upside, particularly if gold continues to set more record highs.<\/p>\n\n\n\n

However, if the recent gains for silver run out of steam, attention is likely to focus on the next downside support levels. A Fibonacci analysis based on the February lows of $22.00 an ounce and the recent peak at $34.91 an ounce indicates downside support may be found at the 23.61% point at $31.81 an ounce.<\/p>\n\n\n\n

Data points to keep an eye on<\/h2>\n\n\n\n

The markets may be keeping an eye on Friday\u2019s US durable goods orders for September, followed by the Michigan consumer sentiment figures for October, for the latest pulse check on the state of the US economy. Looking further out, Tuesday\u2019s US JOLTs job openings will be watched for an update on the US labour market, ahead of expected interest rate cuts at the US Fed\u2019s upcoming meeting on November 7.<\/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>
\n<\/i><\/p>\n

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 eased slightly lower on Thursday, albeit after briefly rallying to a fresh 12-year high. Prices pulled back slightly to a low of $33.28 an ounce, compared with around $33.80 an ounce in late trades on Wednesday. Silver briefly spiked as high as $36.73 an ounce on Thursday, although this did not appear to […]<\/p>\n","protected":false},"author":50,"featured_media":138906,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-138828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Price News: Silver Edges Lower from 12-Year Highs - Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' silver price news analysis for today, Friday 25th 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=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Price News: Silver Edges Lower from 12-Year Highs\" \/>\n<meta property=\"og:description\" content=\"Discover Kinesis' silver price news analysis for today, Friday 25th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kinesis.money\/market-analysis\/silver-news\/silver-edges-lower-from-highs\/\" \/>\n<meta property=\"og:site_name\" content=\"Kinesis\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-25T08:56:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-25T08:56:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/10\/silver-news-feature-Silver-Edges-Lower-from-12-Year-Highs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1058\" \/>\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, Friday 25th of October 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"twitter:label1\" content=\"Scritto da\" \/>\n\t<meta name=\"twitter:data1\" content=\"Frank Watson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tempo di lettura stimato\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minuti\" \/>\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-edges-lower-from-highs\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-edges-lower-from-highs\\\/\"},\"author\":{\"name\":\"Frank Watson\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/#\\\/schema\\\/person\\\/11c4884f9d074d6831f53e287228bf52\"},\"headline\":\"Silver Price News: Silver Edges Lower from 12-Year Highs\",\"datePublished\":\"2024-10-25T08:56:20+00:00\",\"dateModified\":\"2024-10-25T08:56:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-edges-lower-from-highs\\\/\"},\"wordCount\":361,\"image\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-edges-lower-from-highs\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/kinesis.money\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/silver-news-feature-Silver-Edges-Lower-from-12-Year-Highs.jpg\",\"articleSection\":[\"Silver News\"],\"inLanguage\":\"it-IT\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-edges-lower-from-highs\\\/\",\"url\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/silver-news\\\/silver-edges-lower-from-highs\\\/\",\"name\":\"Silver Price News: Silver Edges Lower from 12-Year Highs - 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