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Silver price discussion and analysis

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Technical analysis of Silver dated 26.02.2015

Silver was in a descending trend from the top price of 18.45 that could record the bottom price of 16.07. Right now this bottom price is fixed by the next ascending candles and is the next nearest supportive level. If this supportive level breaks , the price will have the potential of reaching to the important supportive level of 16.00.

As it is obvious in the picture below, there is a harmonic Gartley pattern between the bottom price of 15.52 and the top price of 18.45 that there is a potential for changing price direction from D point of this pattern.Stoch indicator confirms the ascending trend in this time frame and warns its possibility.Currently the first sign for Sellers is breaking of the D point of harmonic pattern in the price chart.
 

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Silver forecast

Silver price continues the downtrend, The price of precious metals has strengthened slightly due to certain weakness in the USD amid the publication of FOMC Minutes on Wednesday
According to Thomson Reuters Release:" Total silver supply is forecast to fall to 1,014.4 Moz in 2015, down 3% from the previous year. This decline is expected to be driven by flat mine production, a 5% drop in scrap return, and net de-hedging of 12.6 Moz. Mine production is slated to total 867.2 Moz this year, up 0.3% from a year ago. This would be the weakest performance since 2002"
The Chinese economy is posting weaker growth numbers, Keep in mind that China is the world’s largest producer and consumer of silver. Even at seven percent GDP growth, demand for silver from China will continue to be robust. On top of that, China recently joined the LMBA silver benchmark-setting process. As a result, China will be pretty motivated to protect and shore up the value of its currency by adding silver to its reserves.
 

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In my oppinion, during the USA trading session silver can have great entry points to work with.

As many are still in fear of the strategy which the FED are implementing. Silver might rise to at least 16$.
 
Re: Gold Price - Where is it heading?

Here Come New Ideas For Silver
Silver metal prices traded narrow bound since 1.7.016 –between 19.20 to 20.70 apx,if we will look closely at the charts we can see some interesting things : first, you can notice the pattern that was shown on the silver chart- flag pattern suggest break up will lead to 22.60-23.50 price area
While breakdown will lead to 17.60-16.20 price area
 
Silver is now a buy for the bounce over the short-term [week-15days] for about a 20% move.

If you are a longer term 'holder', this would be an excellent entry point.

jog on
duc
 
Good call on the bullish reversal in silver Duc. You've earned the rewards.
 
peter2 said:
Good call on the bullish reversal in silver Duc. You've earned the rewards.
Click to expand...

Not yet.....

But the trade is still alive, no need to close it yet. I'm still bullish in the short-term.

jog on
duc
 
The silver price has been heading north over the last month. A break through $17.50 would be a positive sign.

 
Silver Demand in India Set for 4-Year High on Farm Cash Payout

Silver will see a resurgence in demand this year from rural Indians spending cash handouts from the government designed to aid local economies ahead of the general election, according to Metals Focus Ltd.

Purchases are set to rise to about 6,590 tons, beating the 6,442 tons bought in 2018 and marking the best year since record consumption in 2015, Chirag Sheth, an analyst for the London-based research firm, said in an interview in Mumbai. The demand recovery will continue over the next few years “because of economic growth, higher income, and relatively low silver prices and penetration of sterling silver,” he said. More...

Here is a monthly chart, Silver has been traveling in a sideways channel for since 2014.

 
Electrification revolution is estimated to boost silver demand:

"But new technological developments favour silver, with the electrification of the vehicle fleet prompting a considerable boost for silver demand. The electrical and electronics sector is already benefiting from early changes and there is fresh upside for the use of solar technology in autos – the sector currently absorbs over 3,000 tonnes per annum of silver from a standing start less than ten years ago." (http://www.lbma.org.uk/assets/Alchemist/Alchemist_90/Alch90OConnell.pdf)
 
Was highlighting the use of silver in solar panels and silver being labelled as a green energy metal in another thread
 
Chronos-Plutus said:
Well EVs will also impact silver demand according to this chart:

Click to expand...






I had read the article before as it is from 2018. The chart from the article does not appear to be showing more silver in electric vehicles. The increase appears to be from an increase in the number of cars being produced. The comments next to the chart even refer to an increase in silver in ICE vehicles.

SILVER USAGE IN THE GLOBAL ICE FLEET IS EXPECTED TO GROW FROM 1,491 TONNES THIS YEAR TO ALMOST 1,800 TONNES IN 2025 AND TOWARDS 2,350 TONNES BY 2040​

The same components that currently use silver in ICE vehicles will remain the same in electric vehicles. While there will be some increase in each vehicle (both ICE and electric) due to more circuit boards being added to vehicles, the majority of the increase could be expected to be from increased numbers of vehicles being produced.

Granted if the industry moves to the use of solar panels, there will be an increase, however that seems some way off yet. Otherwise I am unaware of any other significant increase in silver for an electric vehicle over an ICE vehicle. Though happy to be corrected.
 
qldfrog said:
Was highlighting the use of silver in solar panels and silver being labelled as a green energy metal in another thread
Click to expand...

Silver has been in the shadows for decades, now to resurface.

Solar panels on roof cars :

"The Toyota Prius was the first model (2016) to employ a solar panel roof, to prevent overheating while parked – when a certain temperature is reached, a power supply is triggered to a fan. Since then, a small number of vehicles have been announced that use solar panels to deliver power into a battery, enhancing driving ranges but not supplying 100% of requirements. One such is on the horizon for next year but in extremely limited numbers." (http://www.lbma.org.uk/assets/Alchemist/Alchemist_90/Alch90OConnell.pdf)

Then there is this statement:

"The implications for silver from the development of this technology stem from its importance in complex electronics and a host of safety features, as distinct from the solar cell aspect.
Combined usage in 2018 in HEVs and EVs is estimated at 123 tonnes, and is forecast to double by 2020 and to reach 450 tonnes in 2025. If the trajectory for 2040 proves accurate, then this sector of the auto industry could account for almost 2,200 tonnes of silver in that year. Automotive silver usage is thus expected to grow by an annual average of almost 4.8% per annum. By 2040, the industry could be absorbing over 4,500 tonnes of silver annually, up by almost 3,000 tonnes against today’s levels, a gain equivalent to just under 10% of current global demand."

(http://www.lbma.org.uk/assets/Alchemist/Alchemist_90/Alch90OConnell.pdf)
 
As stated previously, the article is from 2018 and the adoption of solar panels still hasn't been embraced by the industry as a whole. My understanding is that the number of cars with panels is minuscule. I think it will be a while yet before solar panels are adopted by the industry as a whole.

None of my statements are meant to suggest that silver is not a good investment or that the price wont increase. I just don't see electric cars replacing ICE cars as a major contributing factor at the present time. Increases in production of the number of cars will however require more silver, regardless of whether the cars are ICE or electric.
 
conversation. I have no friends other than silver. It's shiny.
 

Sure; I just think that as technology progresses with electric vehicles more silver will be used in circuitry, safety systems, control systems, batteries and so on.

Then there is the 5G network role out and silver (https://www.silverinstitute.org/wp-content/uploads/2017/05/5GSilver.pdf)
 
Hey guys,
Just gauging and was curious to see what silver mining companies people have,
I hold S32, SIL ca ( silver Crest mining) OZl and Bhp ,
 
Dark1975 said:
Hey guys,
Just gauging and was curious to see what silver mining companies people have,
I hold S32, SIL ca ( silver Crest mining) OZl and Bhp ,
Click to expand...
Hi Dark1975,
I hold MKR (undervalued Gold producer with pretty good Silver resource as well) along with a speccie PMY.

Cheers tela
 
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