(VIANEWS) – Silver (SI) has been up by 5.83% for the last 10 sessions. At 17:52 EST on Monday, 22 July, Silver (SI) is $29.32.
Silver price forecast: xag/usd depreciates to near $29.00 due to China’s demand concerns
According to the Silver Institute’s estimates, 2024 is expected to be the fourth consecutive year of a supply deficit, Business Standard cited Navneet Damani, group senior vice-president, head of commodities research, Motilal Oswal Financial Services., China’s industrial demand for Silver is significant, as it is essential in various applications such as electronics, solar panels, and automotive components.
Volume
Today’s last reported volume for Silver is 59767, 99.99% below its average volume of 9272065972.06.
Volatility
Silver’s last week, last month’s, and last quarter’s current intraday variation average was 1.24%, 0.75%, and 1.40%, respectively.
Silver’s highest amplitude of average volatility was 1.24% (last week), 1.17% (last month), and 1.40% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Silver’s commodity is considered to be oversold (<=20).
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