{"id":143383,"date":"2024-12-16T09:57:44","date_gmt":"2024-12-16T09:57:44","guid":{"rendered":"https:\/\/kinesis.money\/?p=143383"},"modified":"2024-12-16T09:57:47","modified_gmt":"2024-12-16T09:57:47","slug":"silver-ends-week-at-loss","status":"publish","type":"post","link":"https:\/\/kinesis.money\/zh-hans\/market-analysis\/silver-news\/silver-ends-week-at-loss\/","title":{"rendered":"Silver Price News: Silver Ends Week with 1.3% Loss"},"content":{"rendered":"\n

Silver prices fell for a second straight day on Friday to cap the week with moderate losses overall.<\/p>\n\n\n\n

Prices fell as low as $30.36 an ounce on Friday, down from around $31.08 an ounce in late trades on Thursday and from a mid-week high of $33.36 an ounce on Wednesday. The combined falls on Thursday and Friday left silver posting a 1.3% loss on a week-on-week basis.<\/p>\n\n\n

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Silver KAG\/USD \u2013 1hr view \u2013 Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

Stronger dollar weighs on precious metals<\/h2>\n\n\n\n

The US dollar strengthened against other major currencies through the week, weighing on dollar-denominated gold and silver prices as it makes the precious metals more expensive for buyers in other currencies.<\/p>\n\n\n\n

Meanwhile, three central banks, the BoC, SNB and ECB all cut interest rates last week \u2013 a notionally supportive element for precious metals prices. However, sentiment seems to have turned bearish in the short-term, following silver\u2019s highs in late October.<\/p>\n\n\n\n

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

On the technical charts, silver prices on Thursday managed to push through descending oblique minor resistance at $31.93 an ounce on an intraday basis. However, the sharp and sudden fall to around $31.00 an ounce later in the session appeared to re-confirm this resistance level, lending a bearish tone to the start of Friday\u2019s session. Friday\u2019s fall below the 20-day moving average at $30.97 an ounce further added to the sense that momentum has shifted to the downside. This raises the prospect of a potential re-test of ascending oblique major support at $29.91 an ounce in the coming days.<\/p>\n\n\n\n

Upcoming events<\/h2>\n\n\n\n

Looking ahead, Monday will see December manufacturing and services data for the Euro Area, UK and US, while Tuesday will bring US industrial production figures for November. Then attention will turn to Wednesday\u2019s interest rate decision by the US Fed, which is widely expected to cut rates by 25 basis points, having cut rates already this year in September and November by a total of 75 basis points.<\/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 fell for a second straight day on Friday […]<\/p>\n","protected":false},"author":50,"featured_media":143444,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[214],"tags":[],"class_list":["post-143383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-silver-news"],"acf":[],"yoast_head":"\nSilver Price News: Silver Ends Week with 1.3% Loss - Kinesis<\/title>\n<meta name=\"description\" content=\"Stay up to date with the latest silver price news. 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