Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Trading news
Back
5 Jan 2024

Silver Price Analysis: XAG/USD sees modest uptick amid mixed US data

  • Silver advances 0.63% to $23.12, reacting to US employment strength and factory orders, countered by slowing business activity.
  • XAG/USD's potential bullish push towards $24.00 contingent on reclaiming the 100-DMA at $23.30.
  • Downside risks loom if Silver falls below $23.00, with targets at January 4 low of $22.69 and December 13 low of $22.51.

Silver price edged higher on Friday, though it retreated after hitting a two-day high of $23.51 after the release of mixed data from the US. A stronger-than-expected jobs report and a jump in factory orders suggest the economy remains robust. Nevertheless, business activity slowed sharply, approaching recessionary levels. At the time of writing, XAG/USD is trading at $23.12, gaining 0.63%.

The XAG/USD daily chart portrays the grey metal as neutral-biased. The 50, 100, and 200-day moving averages (DMAs) are flat, suggesting there’s indecision among traders. If buyers reclaim the 100-DMA at $23.30, that could pave the way for challenging the confluence of the 50 and 200-DMAs around $23.65. A decisive break would expose the $24.00 figure.

On the other hand, if XAG/USD sellers step in and drag prices from around current levels below $23.00, that would exacerbate a test of the January 4 low of $22.69. Once surpassed, sellers could challenge December’s 13 low of $22.51.

XAG/USD Price Action – Daily Chart

XAG/USD Key Technical Levels

 

Jan 5, 2024

WTI tests $74 as Crude Oil gets dragged higher by Middle East tensions

West Texas Intermediate (WTI) US Crude Oil rose again on Friday, tapping 74.27 as Middle East tensions continue to weigh on energy markets.
Read more Previous
Jan 5, 2024

European equities sink as Eurozone inflation reduces odds of ECB rate cut, US NFP thumps forecasts

European equity indexes shed weight on Friday, plunging on a rebound in Eurozone inflation figures while the US’ Nonfarm Payrolls (NFP) solidly steamrolled forecasts, adding the most jobs since October while markets were expecting a slight fallback in the headline jobs figure.
Read more Next