Silver Price History- Money Morning - Only the News You Can Profit From.
iShares SILVER TRUST ETF
NYSE: SLV
May 17
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Last price21.40Prev Close21.95
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Change-0.55% Change-2.6%
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Open21.85Volume15,842,000
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Day Low21.40Day High21.91
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Bid21.41Ask21.43
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52 Wk Low21.4052 Wk High33.93
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Market Cap82,029ExchangeNYSE
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Last price21.40Prev Close21.95
-
Change-0.55% Change-2.6%
-
Open21.85Volume15,842,000
-
Day Low21.40Day High21.91
-
Bid21.41Ask21.43
-
52 Wk Low21.4052 Wk High33.93
-
Market Cap82,029ExchangeNYSE
-
Last price21.40Prev Close21.95
-
Change-0.55% Change-2.6%
-
Open21.85Volume15,842,000
-
Day Low21.40Day High21.91
-
Bid21.41Ask21.43
-
52 Wk Low21.4052 Wk High33.93
-
Market Cap82,029ExchangeNYSE
-
Last price21.40Prev Close21.95
-
Change-0.55% Change-2.6%
-
Open21.85Volume15,842,000
-
Day Low21.40Day High21.91
-
Bid21.41Ask21.43
-
52 Wk Low21.4052 Wk High33.93
-
Market Cap82,029ExchangeNYSE
-
Last price21.40Prev Close21.95
-
Change-0.55% Change-2.6%
-
Open21.85Volume15,842,000
-
Day Low21.40Day High21.91
-
Bid21.41Ask21.43
-
52 Wk Low21.4052 Wk High33.93
-
Market Cap82,029ExchangeNYSE
-
Last price21.40Prev Close21.95
-
Change-0.55% Change-2.6%
-
Open21.85Volume15,842,000
-
Day Low21.40Day High21.91
-
Bid21.41Ask21.43
-
52 Wk Low21.4052 Wk High33.93
-
Market Cap82,029ExchangeNYSE
-
Last price21.40Prev Close21.95
-
Change-0.55% Change-2.6%
-
Open21.85Volume15,842,000
-
Day Low21.40Day High21.91
-
Bid21.41Ask21.43
-
52 Wk Low21.4052 Wk High33.93
-
Market Cap82,029ExchangeNYSE
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Precious Metals
These Three Charts Point to Higher Silver Prices Ahead
For the past few weeks, silver prices have been trading sideways. Kitco notes this tight trading range "could be "basing' action that can put in market lows and occurs just before an uptrend begins."
For those investing in silver, that's great news.
And if you don't think silver prices will go higher this year, here are three charts showing otherwise.
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Gold and SilverGold and Silver Prices Boosted by These Global Moves
Gold and silver prices both marched toward their largest gains in more than a week Tuesday joining the uplifting mood on Wall Street. As the Dow Jones Industrial Average reveled in a historic rally that took the benchmark to a record high, commodities also soared.
Gold prices settled Tuesday's trading session up $2.50, or 0.2%, at $1,574.90 an ounce, supported by stimulus chatter and a weaker dollar. The safe haven metal had reached as high as $1,585.80 an ounce intraday, on course for its biggest leap since Feb. 26.
Year-to-date, gold has dipped 5.7%. The commodity logged its fifth consecutive month of declines in February, marking its longest stretch of declines since 1997.
Silver prices rose 1.7% to $28.97 in early trading, their biggest gain in more than a week. The white metal ended the day at $28.81.
While silver's slip since January has been more modest than gold's, it's well below the $34.89 it traded at during the same period a year ago.
But loose monetary policies worldwide, geopolitical uncertainties, rising oil prices and renewed fears of inflation should support, if not boost, both gold and silver prices in the months ahead.
Aggressive Global Stimulus Here to Stay
Driving gold and silver prices higher Tuesday were comments from Federal Reserve Vice Chairman Janet Yellen.
At the National Association for Business Economics conference Monday, the Federal Open Market Committee's (FOMC) Yellen defended the bank's $85 billion a month of bond purchases.
"At this stage, I do not see any (risks) that would cause me to advocate a curtailment of our purchase program," Yellen said.
Yellen's sentiments mirror that of Fed Chief Ben Bernanke, who thinks continued stimulus will be good for the U.S. economy. Acknowledging there are risks from the Fed's aggressive efforts to stoke the anemic U.S. economy, Yellen added there are also risks from not being aggressive enough.
This news from overseas is also bullish for gold and silver prices...
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Silver CoinsBuying Silver Coins: All You Need to Know
- Money Morning Staff Reports - March 4, 2013
Investors have been buying silver coins at a lightning-fast pace this year. The U.S. Mint even sold out of 2013-dated American Silver Eagles in early January.
January Silver Eagle sales hit a record 7,498,000. After suspending sales Jan. 17, the U.S. Mint has allowed investors to resume buying silver coins, but with limits on how many coins dealers can order.
The good news: You can still cash in on buying silver coins. But before you buy, you need to know the best deals out there - and the ones to avoid.
That's why Money Morning Executive Editor William Patalon III explained everything you need to know about buying silver coins in this accompanying video.
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Precious Metals10How to Buy Silver Coins
Silver is one of the hottest investments this year, leading many investors to ask how to buy silver coins before the white metal soars to new highs.
Indeed, investors have been buying silver coins at such a rapid pace, the U.S. Mint announced Jan. 17 it had sold out of 2013-dated American Silver Eagles - just 10 days after opening sales to authorized dealers.
Opening day sales for the hugely popular bullion coins on Jan. 7 hit a record 3,937,000 coins. The tally of total sales over the 10 days the coins were available exceeded 6 million.
Sales resumed Jan. 28 after the Mint replenished its inventory, but on an allocated basis with limited orders. The Mint used the same method in 2009 and 2010 when demand among people buying silver coins also outstripped supply.
The Mint's early run on the bullion coins - bought as an investment, as a hedge against inflation and as a store of wealth - underscores a growing frenzy for silver.
That's why we asked Money Morning Executive Editor William Patalon III to explain how to buy silver coins.
In the accompanying video he outlined the three ways to buy silver coins: the right way, the wrong way and the intriguing way.
Now's the Time to Buy Silver Coins
Contributing to the robust demand for the Eagles were a lot of rumblings about tighter supplies of physical silver, mounting fears of inflation and concerns about loose global monetary policies, which have devalued currencies around the globe.
Investors have also turned to other silver price plays. In the first half of January, the iShares Silver Trust ETF (NYSE: SLV), the biggest silver exchanged-traded product, sold more silver than it has in any two-week span over the past five years.
One of the reasons that now's a good time to buy silver and silver coins is the alluring entry point. The white metal has slipped about 9% this year.
After peaking at $49.79 in April 2011, silver prices began 2013 at around $30 an ounce. But that price is a bargain compared to what's ahead...
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Precious Metals1Silver Prices Getting Huge Boost from these Chinese Market Shifts
Twenty years ago China was a very minor factor when estimating the direction of silver prices.
Now, the country is a major force both on the demand and supply side of the silver market.
In fact, a recent report issued last month by Thomson Reuters GFMS for the Silver Institute outlined how China's supply and demand was a major developing factor guiding silver prices in 2013 - and the news is great for those investing in the white metal.
Let's take a look.
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Precious MetalsSilver Prices: White Metal Mania Taking Hold in 2013
- By Jeff Uscher, Contributing Writer, Money Morning
Silver prices are up nearly 8% in the past couple weeks as investors increasingly load up on the white metal.
In fact, the U.S. Mint has temporarily suspended sales of its 2013 American Eagle silver coins because it has none left.
Reuters reported today (Friday) that the Mint plans to restart sales in the last week of January after it has had a chance to restock.
The U.S. Mint generally sees a big influx of demand when it releases new coins at the beginning of the year. This year, however, investors seeking a safe haven for their money added to the usual collector demand leaving the Mint's vaults bare.
"It is easy to infer that some element of the fear trade may be at play," Joni Teves, an analyst at UBS AG in London, wrote today in an e-mailed report cited by Bloomberg News. "We view the chunky sales of American Eagle coins more a function of seasonality than anything else. It is important to keep an eye on U.S. coin sales in the coming months to see if volumes remain elevated as the debt ceiling showdown plays out."
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Precious Metals482013 Silver Price Forecast: Silver Will Perform Like Gold on Steroids
This past March, I asked a highly successful investment advisor what he thought about gold. Since he deals almost exclusively with very high net-worth individuals, his point of view was especially intriguing.
He confided to me that many of his clients had been asking for gold and gold-related investments over the past few years. I can't say that I was surprised.
But what he told me next simply shocked me.
"Gold's much too volatile, it's too risky", he said. "Sure it's up, but I try to discourage my clients from investing in it."
It simply floored me that he thought gold was too volatile. Gold is only up 580% since it bottomed in 2001, without a single losing year to date.
That's not something you can say about the stock market or any other type of investment.
I can hardly imagine what he must think of silver, as silver prices are up by 725% since 2001.
Today, silver is trading around $34, but our 2013 silver price forecast now has the shiny metal going much, much higher.
What will power that rise?
Since it's slaved to its richer cousin, all the fundamentals for higher gold would apply.
I wrote about them yesterday in my 2013 gold price forecast.
As history has shown, silver moves almost in sync with gold, but exaggerates its movements, both on the up and down sides. That's why I like to think of silver as "gold on steroids".
To continue reading, please click here... -
The Dumb Money Hates Silver, it’s Time to Go Long
Speculators hate silver...
For the past year, the positive silver headlines have been few and far between.
Ever since the poor man's gold peaked near $50 in April of last year, it's become a despised metal.
Admittedly, it's been languishing near $27 since early May not far from where it was for the first time - in this bull market - back in late 2010.
But as I'll show you, right now a number of technical, seasonal, and sentiment indicators are pointing upwards for this volatile metal.
This could well be the critical turning point silver investors have been waiting for. One of these indicators is the resilient price of gold.
Let me explain.
The Silver/Gold Ratio
Silver has always pretty much been gold's lapdog and on a relatively short leash at that.
As a rule, silver prices usually follow the direction of gold. But as long time silver investors recognize, the moves are amplified both on the downside and the upside. Silver prices are simply more volatile than gold prices.
As for gold, since it peaked about a year ago, it seems to be drifting aimlessly in zombie land. For the better part of the year it's been consolidating about 16% below its previous peak of $1,900.
Today, at $1,600, gold is back to levels its first saw a whole year ago. What investors need to pay attention to is the gold to silver ratio.
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Summer Slump in Silver Prices Closer to an End
Silver prices have suffered this year as the white metal has lost its luster as a safe haven investment, but the pullback has slowed and may be bottoming out.
Cash has gained some allure over metals, but according to FX Empire, as bullion prices near support levels buying interest has been on the rise.
In July, silver prices broke out from a three-month price slump and closed up 1.1% to $0.302.This came after fourth months of consecutive losses: 0.5% (June), 10.5% (May), 4.5% (April) and 6.2% (March).
Silver prices ended last week on a positive note, up $0.54 to $27.69. Futures and options players made bullish bets at the end of last week on the commodity based on speculation for additional stimulus from the Federal Reserve.
This week, silver prices have continued their rise. The metal's up 0.3% to $27.84 an ounce.
Can this uptrend continue? Here's what to expect from silver prices in the near term.
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Silver Prices Ready for QE3
Recent economic data might be enough to get the U.S. Federal Reserve to finally commit to more stimulus measures, which in the past has delivered a good run for silver prices.
The United States last week reported economic growth of just 1.5% for the second quarter of 2012, down sharply from the rates posted for the previous two quarters.
As a result, the Dow Jones Industrial Average jumped as traders anticipate more economic stimulus from the Federal Reserve, either at the Federal Open Market Committee (FOMC) meeting this week or when Chairman Ben Bernanke speaks at Jackson Hole in late August.
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