Special Report: SILVER
Date: December 14, 2023
WEEKLY TREND: UP
HISTORCIAL CHANGES IN SILVER PRICES
|
Year |
December-1 |
January-31 |
Percentage Change |
|
2014 - 2015 |
$ 14.731 |
$ 17.225 |
+ 16.93% |
|
2015 - 2016 |
$ 14.058 |
$ 14.240 |
+ 1.29% |
|
2016 - 2017 |
$ 16.453 |
$ 17.499 |
+ 6.36% |
|
2017 - 2018 |
$ 16.408 |
$ 17.320 |
+ 5.56% |
|
2018 - 2019 |
$ 14.237 |
$ 16.010 |
+ 12.45% |
|
2019 - 2020 |
$ 16.981 |
$ 18.017 |
+ 6.10% |
|
2020 - 2021 |
$ 22.623 |
$ 28.572 |
+ 26.30% |
|
2021 - 2022 |
$ 22.766 |
$ 22.440 |
- 1.43% |
|
2022 - 2023 |
$ 22.312 |
$ 23.640 |
+ 5.95% |
|
Average Price Change |
+ 8.83% |
Data Source: Fortrade MetaTrader 4
The table above tells us that silver prices historically rose in the period between December 1 and January 31. After calculating the average price changes over the same period starting 2014- 2015 period, we found an average increase of 8.83%.
However, please note that past performance does not guarantee future results.
- EVENT: FEDERAL RESERVE INTEREST RATES HELD AT 5.50%. The Federal Reserve signaled in new economic projections that U.S. interest rate increases have come to an end and lower borrowing costs are coming in 2024. Fed officials project that the policy rate will be lower at least three interest rate cuts (0.25% points each) from the current 5.25%-5.50% range. NEXT MEETING: January 31, 2024.
- Silver prices supported by a softer dollar and renewed interest in non-yielding instruments
Silver price supported by a softer dollar and renewed interest in non-yielding instruments. Concerns over the supply of industrial silver against the backdrop of robust demand also lifted prices. Chile’s state-owned Chochilco stated that silver demand is expected to fall 9.4% in 2024 due to lower investments. Still, the market could be expected to remain in a deficit, aligned with The Silver Institute’s forecast of lower output in Peru and Mexico.
Silver, December 14, 2023
Current Price: 23.90
|
SILVER |
Weekly |
|
Trend direction |
|
|
26.90 |
|
|
25.90 |
|
|
24.90 |
|
|
23.00 |
|
|
22.60 |
|
|
22.30 |
Example of calculation based on trend direction for 1.00 Lot*
|
SILVER |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
30,000.00 |
20,000.00 |
10,000.00 |
-9,000.00 |
-13,000.00 |
-16,000.00 |
|
Profit or loss in €2 |
27,494.86 |
18,329.91 |
9,164.95 |
-8,248.46 |
-11,914.44 |
-14,663.93 |
|
Profit or loss in £2 |
23,706.51 |
15,804.34 |
7,902.17 |
-7,111.95 |
-10,272.82 |
-12,643.47 |
|
Profit or loss in C$2 |
40,390.95 |
26,927.30 |
13,463.65 |
-12,117.29 |
-17,502.75 |
-21,541.84 |
1. 1.00 lot is equivalent of 10.000 units
2. Calculations for exchange rate used as of 10:30 (GMT) 14/12/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Managerregarding their use.
- You may wish to consider closing your position in profit, even if it is lower than suggested one
- Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more detail