{"id":147354,"date":"2025-02-17T12:28:55","date_gmt":"2025-02-17T12:28:55","guid":{"rendered":"https:\/\/kinesis.money\/?p=147354"},"modified":"2025-02-17T12:29:01","modified_gmt":"2025-02-17T12:29:01","slug":"silver-ends-lower-after-spike","status":"publish","type":"post","link":"https:\/\/kinesis.money\/it\/market-analysis\/silver-news\/silver-ends-lower-after-spike\/","title":{"rendered":"Silver Price News: Silver Ends Lower After Spiking Above $34.00 an Ounce"},"content":{"rendered":"\n

Silver prices ultimately ended lower on Friday, having briefly rallied above the $34.00 an ounce mark.<\/p>\n\n\n\n

Prices eased to a low of $32.18 an ounce late Friday, falling sharply from an intraday high of $34.34 an ounce \u2013 a three-month high.<\/p>\n\n\n\n

US manufacturing sends bullish signal<\/h2>\n\n\n\n

US manufacturing production rose by 1% in January, on a year-on-year basis, according to figures released Friday, following months of contraction. This may have sent a bullish signal for industrial demand for silver in the US, a major consumer of the metal. However, on a month-on-month basis, January\u2019s figure represented a 0.1% drop.<\/p>\n\n\n\n

Gold pulls silver lower<\/h2>\n\n\n\n

As the markets mulled the true impact of the latest US stats, in the background, gold prices went into sharp retreat on Friday as efforts to find a peace deal in Ukraine got underway at a conference in Munich. The sudden drop in gold prices provided a bearish backdrop for silver, which duly followed lower to end Friday about 0.7% in the red.<\/p>\n\n\n\n

November and December 2024 saw quite a shake-out for silver prices, which formed something of a base at around $29.00 an ounce, and this level has served as a platform for solid gains since the start of 2025, with prices moving higher once again to test their 12-year highs seen in October 2024.<\/p>\n\n\n\n

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

Silver\u2019s brief foray into higher territory on Friday saw prices punch up through descending oblique major resistance at $32.54 an ounce. While this could be construed as bullish, silver\u2019s crash back down later in the day indicates that buyers are unwilling to sustain purchasing at those higher levels, raising questions over the market\u2019s upward momentum. That being said, silver did manage to hold above oblique minor support at $31.98 an ounce last week, and this leaves an open question over which direction silver will ultimately take when it does break out of its current wedge formation.<\/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 ultimately ended lower on Friday, having briefly rallied above the $34.00 an ounce mark. Prices eased to a low of $32.18 an ounce late Friday, falling sharply from an intraday high of $34.34 an ounce \u2013 a three-month high. US manufacturing sends bullish signal US manufacturing production rose by 1% in January, on […]<\/p>\n","protected":false},"author":50,"featured_media":147392,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-147354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Price News: Silver Ends Lower After Spiking Above $34.00 an Ounce - Kinesis<\/title>\n<meta name=\"description\" content=\"Find out the latest silver price news. 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