Silver set for strong finish this afternoon; up 1.23% to $24.04 per troy ounce with 2 hours before close

Published: January 25 2023, 20:15 GMT+0

Silver set for strong finish this afternoon; up 1.23% to $24.04 per troy ounce with 2 hours before close

Silver goes up to $24.04 per troy ounce after dipping down to $23.44 earlier.

On the flip side, United States Crude Oil Inventories published today at 15:30 UTC came out at 533,000, falling short of the 971,000 projections and continuing its decline from the previous 8.41 million figure.

At the same time, United States 5-Year Note Auction released today at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released today at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

Rallies can also be seen in other Metals, Gold is up 0.63% to $1,947.6.

Meanwhile, after ending yesterday's session at $1,066.8, Platinum lost $18.6 and is trading around $1,048.2. Palladium closed at $1,694 (down 2.39%).

Furthermore, the market is looking at United States Core Durable Goods Orders projected to decline to -0.2% while previous data was 0.1%; data will be released tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States GDP will be released, with an expected decline to 2.6 from the preceding figure of 3.2. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 205,000 from the preceding figure of 190,000.

Trading mostly sideways for a month. The past 3 months have been positive for CME Silver as it added 23.76% compared to its 3-month low of $17.67.

Back