(VIANEWS) – Spot silver prices are trading at a negative tilt due to continued buck buoyancy in the face of very jittery global markets risk appetite. Silver is still struggling to regain its 200-Day Moving average of $23.83. On Wednesday, the precious metal printed a new more than 2-month-low at the $23.20s.
FXStreet reported that the Fed will increase interest rates next week by 50 basis points. This is in addition to geopolitical developments and US GDP data. Falling US and global yields on safe haven bonds might slow down any Silver decline. However, bears will still be keen to test $23.00 if stocks continue their recent fall, as this seems likely at this point.
Silver (SI) is currently on bullish momentum. At 02:53 EST on Friday, 29 April, Silver (SI) is at $23.54 and 1.55% up since the last session’s close.
Today’s last reported volume for Silver is 7618, 99.99% below its average volume of 21345827641.99.
Regarding Silver’s daily highs and lows, it’s 1.422% up from its trailing 24 hours low of $23.21 and 1.117% up from its trailing 24 hours high of $23.28.
Silver’s last week, last month’s, and last quarter’s current intraday variation average was a negative 0.81%, a negative 0.20%, and a positive 1.30%, respectively.
Silver’s highest amplitude of average volatility was 0.81% (last week), 1.11% (last month), and 1.30% (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 overbought (>=80).
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