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Silver Mar '24 (SIH24)
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Silver Futures Market News and Commentary

Dollar Gains on Hawkish Fed and Higher T-note Yields

The dollar index (DXY00) on Thursday rose by +0.09%, supported by higher T-note yields.  Also, hawkish comments from Richmond Fed President Barkin Strength boosted the dollar when he said the Fed is in no hurry to lower interest rates.  In addition, Thursday’s weekly U.S. jobless claims report showed that claims fell more than expected, a sign of strength in the labor market and a hawkish factor for Fed policy. 

U.S. weekly initial unemployment claims fell -9,000 to 218,000, showing a stronger labor market than expectations of 220,000. Also, weekly continuing claims fell -23,000 to 1,871 million, showing a stronger labor market than expectations of 1.875 million.

Comments on Thursday from Richmond Fed President Barkin were slightly hawkish and supportive for the dollar when he said the Fed doesn't have to be in a hurry to cut interest rates and he would like to see disinflation for a few more months before cutting rates.

The markets are discounting the chances for... Read more

Contract Specifications

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Contract
Silver 5,000-oz
Contract Size
5,000 troy ounces
Tick Size
$0.005 per troy ounce ($25.00 per contract) (Settlement $0.001)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (RTH 7:25a.m. - 12:25p.m.) (Settles 12:25p.m.) CST
Exchange
COMEX
Point Value
$5,000
Margin/Maintenance
$9,900/9,000
First Notice Date
02/29/24 (21 days)
Expiration Date
03/27/24 (48 days)

Seasonal Chart

Silver Mar '24
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Jan 30, 2024

View Chart Details
Commercials - Long / Short
41,387 (-562)
79,165 (+3,145)
Non-Commercials - Long / Short
52,778 (-343)
31,352 (-4,032)
Producers - Long / Short
4,103 (-1,313)
40,136 (+1,861)
Swap Dealers - Long / Short
33,364 (+845)
35,109 (+1,378)
Managed Money - Long / Short
32,840 (+3,406)
28,509 (-3,579)
Other Reportables - Long / Short
19,938 (-3,749)
2,843 (-453)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
22.040 +2.86%
on 01/22/24
23.720 -4.43%
on 01/12/24
-0.421 (-1.82%)
since 01/09/24
3-Month
22.040 +2.86%
on 01/22/24
26.340 -13.93%
on 12/04/23
-0.572 (-2.46%)
since 11/09/23
52-Week
21.050 +7.70%
on 03/08/23
27.200 -16.65%
on 05/05/23
-0.723 (-3.09%)
since 02/09/23

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Most Recent Stories

More News
Dollar Gains on Hawkish Fed and Higher T-note Yields

The dollar index (DXY00 ) on Thursday rose by +0.09%, supported by higher T-note yields. Also, hawkish comments from Richmond Fed President Barkin Strength boosted the dollar when he said the Fed is in...

DXY00 : 104.135 (-0.03%)
^EURUSD : 1.07777 (-0.01%)
^USDJPY : 149.282 (-0.03%)
GCJ24 : 2,049.5 (+0.08%)
SIH24 : 22.670 (+0.15%)
Higher Bond Yields Weigh on Stocks But Chip Stocks Provide Support

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.07%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.16%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.13%. Stock...

$SPX : 4,997.91 (+0.06%)
SPY : 498.32 (+0.04%)
$DOWI : 38,726.33 (+0.13%)
DIA : 387.35 (+0.18%)
$IUXX : 17,783.17 (+0.16%)
QQQ : 432.79 (+0.19%)
PYPL : 56.13 (-11.24%)
EG : 354.56 (-7.65%)
FLT : 265.12 (-9.20%)
SPGI : 436.63 (-5.02%)
BWA : 31.48 (-6.95%)
AZN : 63.52 (-4.55%)
Are We Witnessing a 2024 Peak in the Gold/Silver Ratio Amidst Cryptocurrency’s Surge?

The Gold/Silver Ratio tests 2024 highs while Crypto's Breakout! Metals Minute w/ Phil Streible

Rising Stock Prices Weigh on the Dollar

The dollar index (DXY00 ) on Wednesday fell by -0.15%. The dollar on Wednesday posted modest losses. Strength in stocks Wednesday curbed liquidity demand for the dollar. Also, Wednesday’s reports that...

DXY00 : 104.135 (-0.03%)
^EURUSD : 1.07777 (-0.01%)
^USDJPY : 149.282 (-0.03%)
GCJ24 : 2,049.5 (+0.08%)
SIH24 : 22.670 (+0.15%)
Is This the Top in Tech Stocks?

The ES and NQ futures approach major psychological resistance. Treasury yields are unchanged ahead of a 10-year note auction, and equity markets will be paying close attention to more Fed Speak.

S&P 500 and Nasdaq 100 Climb to Record Highs on U.S. Economic Optimism

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.69%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.38%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.03%. Stock...

$SPX : 4,997.91 (+0.06%)
SPY : 498.32 (+0.04%)
$DOWI : 38,726.33 (+0.13%)
DIA : 387.35 (+0.18%)
$IUXX : 17,783.17 (+0.16%)
QQQ : 432.79 (+0.19%)
EMR : 102.38 (-1.64%)
CMG : 2,620.48 (-1.74%)
PANW : 367.02 (+0.69%)
CRWD : 323.04 (+1.66%)
FTNT : 67.85 (-3.11%)
ZS : 249.41 (+1.94%)
How Will Fed Speeches and Economic Data Impact Gold and Financial Markets?

An analysis of current financial markets, focusing on the impact of Federal Reserve speakers' statements on interest rates, the performance of precious metals, and broader economic indicators.

GDXJ Searching for Bottom Before Next Bullish Leg

(GDXJ) is an ETF tracking small-cap gold and precious metals mining companies. It has a focus on smaller, more volatile firms. Thus it offers exposure to this precious metal sectors, but investors should...

Dollar Slides With T-Note Yields

The dollar index (DXY00 ) on Tuesday fell by -0.26%. A decline in T-note yields on Tuesday weighed on the dollar. Recent hawkish Fed comments and strong U.S. economic news have pushed back the chances...

DXY00 : 104.135 (-0.03%)
^EURUSD : 1.07777 (-0.01%)
^USDJPY : 149.282 (-0.03%)
GCJ24 : 2,049.5 (+0.08%)
SIH24 : 22.670 (+0.15%)
Stocks Waver on Lower Bond Yields and Mixed Corporate Earnings

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.01%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.23%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.36%. Stock...

$SPX : 4,997.91 (+0.06%)
SPY : 498.32 (+0.04%)
$DOWI : 38,726.33 (+0.13%)
DIA : 387.35 (+0.18%)
$IUXX : 17,783.17 (+0.16%)
QQQ : 432.79 (+0.19%)
GEHC : 82.06 (+0.28%)
DD : 67.10 (+0.93%)
WTW : 270.11 (-0.62%)
LIN : 414.00 (-0.68%)
UPS : 147.92 (+0.46%)
PLTR : 24.51 (+3.86%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 23.339
2nd Resistance Point 23.022
1st Resistance Point 22.829
Last Price 22.675
1st Support Level 22.319
2nd Support Level 22.002
3rd Support Level 21.809

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52-Week High 27.200
Fibonacci 61.8% 24.851
Fibonacci 50% 24.125
Fibonacci 38.2% 23.399
Last Price 22.675
52-Week Low 21.050

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