Silver Closes Above Its 200 Day Moving Average

The 200 day moving average is one signal that the computer algos watch. Recently, silver had fallen below its 200 day moving average as shown on the chart below from stockcharts.com. But Thursday (4-1-2021) it closed well back up above the 200 day average. The chart below (based on the April silver futures contract) shows the 200 day average at $24.77 and a candle yesterday that moved from below that price point to close at $24.95.




chart from stockcharts.com

click on chart to enlarge


Comments

Post a Comment

Popular posts from this blog

The US Mint - A Blast from the Past

Image
Anyone who has interest in silver and especially silver coins knows the history of the Morgan and Peace silver dollars minted in the US until the 1920's (Morgans) and 1930's (Peace).  As Judy Shelton noted in her speech given at the Thomas Jefferson Library , a lot of thought was put into how the US dollar should originally be defined. Here is one excerpt from her speech: " Based on Jefferson’s recommendations as laid out here…the Coinage Act of 1792 would define America’s dollar in terms of precise weights: 371.25 grains of pure silver or 24.75 grains of pure gold. The idea being: Precision, dependability, transparency…whether in establishing the standard of weights and measures for a nation, or for establishing its monetary standard, its money unit – will yield very positive social, political, economic and scientific results. Jefferson believed that reliable, well-defined standards would empower citizens to make responsible decisions for themselves and for the nation. An
Read more

Understanding the US Mint

Image
If you are new to the world of gold and silver coins, you may wonder if the US Mint is a good place to buy some coins. The US Mint does offer a selection of both gold and silver coins annually and they come with the advantage of being backed for authenticity, weight, and purity by the US government. Also, they provide updated sales figures for gold and silver coins that can be useful information for potential buyers  ( find bullion coin sales totals here ). One thing that can be confusing is that the US Mint offers a variety of different versions of their standard gold and silver coins. The basic bullion coins offered every year are the gold and silver eagles and the gold buffalo coins. You can see examples of the various bullion coins offered here . Unfortunately, you cannot directly buy these bullion coins from the US Mint. The bullion coins (the least expensive versions of the coins) are only sold by the US Mint to a group of authorized purchasers . These purchasers are large volu
Read more