Why Is Silver Rallying Today?

Share This Article
Mike Hammer | December 3, 2019 9:46am NYSE:SLV

NYSE:SLV | News, Ratings, and Charts

Once again defying skeptics, silver popped overnight on news that China is delaying trade talks. President Trump, in typical fashion, immediately went on the offensive saying it might be better to wait until after the US election to hammer out a deal.

What did that do for silver prices? Here is the “before” story as told by SLV, the unleveraged silver ETF that trades on US markets.

silver price chart 2019

(credit Fidelity.com)

As you can see, silver has been trading in a very narrow band for the past several weeks. In this case the trading range – running between opening and closing prices, so excluding a few intraday “excursions” – runs from 15.69 to 16.05.

Then comes last night’s kerfuffle, and silver responds like this –

silver price chart 2019

The iShares Silver Trust (SLV) rose $0.23 (+1.46%) in premarket trading Tuesday. Year-to-date, SLV has declined 0.00%, versus a 16.60% rise in the benchmark S&P 500 index during the same period.

SLV currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #9 of 33 ETFs in the Precious Metals ETFs category.

About the Author: Mike Hammer

Mike HammerFor 30-plus years, Mike Hammer has been an ardent follower, and often-times trader, of gold and silver. With his own money, he began trading in ‘86 and has seen the market at its highest highs and lowest lows, which includes the Black Monday Crash in ‘87, the Crash of ‘08, and the Flash Crash of 2010. Throughout all of this, he’s been on the great side of winning, and sometimes, the hard side of losing. For the past eight years, he’s mentored others about the fine art of trading stocks and ETFs at the Adam Mesh Trading Group.

9 "Must Own" Growth Stocks For 2020

Read Next

Get Free Updates

Join over 50,000 investors who get the latest news from ETFDailyNews.com!

Most Popular

Explore More from ETFDailyNews.com

Free Daily Newsletter

Get daily ETF insights from our market experts. Never miss another important market development again!

ETFDailyNews.com respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories