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Metals Minute 77: Silver Spot Price

Metals Minute 77: Silver Spot Price

March 23, 2022848 view(s)

The metals are all in the green this week, with gold up 1% to $1,943, silver up 1% to $25.33, platinum up 1% to $1,044, and palladium up 4% to $2,578. 

 

The 1-year numbers are mixed, with gold up 13%, silver up 1%, platinum down 11%, and palladium down 2% since last year.

 


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Silver Spot Price

 

We provided you some data about silver from the technical analysis (TA) community earlier this week that suggests silver may outperform in the medium (1-2 years) to long (5-8 years) term. Yesterday our friends in the “Silver Squeeze” community sent us an interesting observation that is positive for silver in the near term (2-6 months).

 

By plotting the spot price of silver on a graph, we can create a “50-day moving average” and a “200-day moving average”, illustrating the trend lines for silver over the last 50 or 200 days. When these lines intersect, it often indicates the near-term direction for silver. They crossed yesterday afternoon in an upward direction for the first time since July 2, 2020. Silver was 66% higher within five weeks the last time this happened.

 

About the Author: Bill Stack

 

Financial Analyst of 29 years and Gulf War Veteran, Bill has been helping families nationwide keep their money safe and growing since 1993. As a Certified Financial Fiduciary® and a RICP®, Bill specializes in helping protect your assets with growth potential.

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