Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
Silver Prices Slide On A Strong Dollar

Silver Prices Slide On A Strong Dollar

Alejandro Zambrano, Market Analyst

Today, silver prices are lower by 0.93% and nearing the lower end of their December range. The December low is at $13.59 and a break to this level would not surprise me. In this scenario, I anticipate a decline to the July 29 2009 low at $13.17. The next level beyond $13.17 is the July 13 2009 low at $12.46.

There is no more macro data on tap until tomorrow’s U.S. Jobless Claims. Markets expect an outcome of 270k (Bloomberg economist survey) and a lower than anticipated outcome may trigger a decline in silver prices. Chicago PMI for December and ISM Milwaukee is also on deck.

In the next few weeks I anticipate a break to the December low at $13.59 as I see the USD strengthening on Fed hikes. Currently overnight-index-swaps are pricing in 57 bps hikes vs. the Fed’s projection of a 100 bps increase by the end of 2016. If the Fed is correct in their forecast the Dollar stands to gain, while silver prices should decline.

Get ahead in 2016 – Read The Traits of Successful Traders Guide – I have!

Silver Price / XAGUSD

Silver Price / XAGUSD

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for

Contact and follow Alejandro on Twitter: @AlexFX00

Learn more about trading and join a London Seminar

To be added to Alejandro’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.