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 Replies: 2,694 / Views: 86,217 |
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Pillar of the Community
United States
1098 Posts |
Silver is currently at around $74 at 1:15pm EST. A close today above yesterday's high of $74.42 would be the signal that Silver might be done looking for a bottom, for now. Gold is already on course for that, it's currently trading at $6 above yesterday's high... 3 hours left in regular trading hour's, a lot can happen still.  |
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Pillar of the Community
United States
1098 Posts |
FYI in case you guys are seeing different Quotes on your apps like Kitco for example it's because they haven't transitioned to the "front month" yet.. That would be the July expiration contracts. Maybe they'll transition tomorrow?  Below is the front month contracts in Silver futures that are currently being traded symbol /SIN26 the prior contract for May was symbol /SIK26 everyone is transitioning out of that currently.  |
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Moderator
 United States
188643 Posts |
Ah, good to know.  |
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Pillar of the Community
United States
1098 Posts |
Despite Silver having printed a nice Green candle today it doesn't appear to be closing higher than yesterday's high. But it's really close so I can't totally dismiss it.  We may have to leave it up to the overnight crew for confirmation in Silver  GOLD however is closing higher today than yesterday's high, So there might be some hope there.    |
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Moderator
United States
188643 Posts |
Sleep well, everyone.  |
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Pillar of the Community
United States
1098 Posts |
May 1st starting off on the right foot. The night crew has confirmed yesterday's reversal signal was valid and started putting in a little step Up in the right direction for today.. Classic reversal pattern. The July Silver futures price hit a high of $75.79 this morning in pre-market hour's. Let's hope it continues.  |
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Moderator
United States
188643 Posts |
Silver. Going up!? |
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Pillar of the Community
United States
1098 Posts |
This was the price at 9:25 am EST over $75 I believe the metal's apps are still about 30-50 cents lower but the gap is closing as they move into the front month. Eventually it will match the currently traded July delivery contract for 1000 ounce bars price.  |
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Moderator
United States
188643 Posts |
Higher and Higher!   |
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Pillar of the Community
United States
1098 Posts |
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Moderator
United States
188643 Posts |
More, please. |
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Moderator
United States
188643 Posts |
Made it all the way to $77.08 before pulling back under $76.  |
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Pillar of the Community
United States
1098 Posts |
Quote:Made it all the way to $77.08 before pulling back under $76. Yup I got a high of $77.52 on my end. Starting May off with a bang!!  Like I've said in the past, I think Silver should have been at least $90 in May had it not been for all the nonsense. |
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Moderator
United States
188643 Posts |
It only needs ~$15 to get there. |
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Pillar of the Community
United States
1098 Posts |
Quote:
The May 2026 COMEX silver contract (SIK26) entered its delivery phase following First Notice Day on April 30. Currently trading around $75.94, the market is under significant scrutiny due to a "coverage ratio" of approximately 13-14%, which is below the typical 15% stress threshold.
Key details regarding the current cycle include:
Inventory vs. Interest: There are roughly 134.8 million ounces in open May contracts against only 77-80 million ounces of "registered" silver available for immediate delivery.
Delivery Trend: While most contracts typically roll to July, recent months have seen unusually high delivery requests—January reached 40 million ounces, far exceeding the historical norm of 1-2 million.
Market Context: Silver is rebounding from a two-month decline, supported by a weakening dollar and persistent global supply deficits.
While a systemic "explosion" or default is statistically unlikely given CME's intervention mechanisms, the narrow inventory-to-open-interest ratio indicates the tightest physical market conditions in several years. Just a little reading material for everyone to gaze upon and to ponder while we wait for the next move. |
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Posted 04/30/2026 1:34 pm
