💿Silver continues recovery

13:07 22 December 2021

Silver follows other metals and brings more volatility to other markets

Silver is gaining over 0.6% today and the price is back above $ 22.5. The change may not be too big, but it is one of the biggest increases in today's session. Copper is gaining strongly, but volatility is much lower in other markets. In the case of indices and currencies, it rarely exceeds 0.2%. It is worth noting that the price of silver has clearly rebounded since the formation of the second low in the double bottom formation. Since then, silver has gained over 5%. Nevertheless, it is worth noting that silver and other precious metals did not impress this year. Bloomberg points out that silver was one of the worst metals to invest in, even though it is also recognized as an industrial metal. Industrial metals, on the other hand, performed really well.

Silver recorded a loss of around 15% this year. Industrial metals, on the other hand, were doing really well. At the same time, the 2-year volatility on silver shows that this metal still performs better than gold or the entire precious metals sector. Source: Bloomberg

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It is also worth noting that silver, similiar to gold, is doing quite well in terms of seasonality at the end of the year. In previous years, we observed quite dynamic increases in the last week of December and at the beginning of the next year (mainly during the first week of January). Of course, historical volatility does not affect the current price behavior, but the end of the year is very specific in terms of investor behavior due to the holidays and limited volume.

Seasonality on silver at the turn of the year. Source: xStation5

Silver continues its upward movement and tries to close its divergence with gold. The key resistance is the downtrend line and the potential double bottom neckline around $25.50. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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