Silver Weekly Special Report based on 1.00 Lot Calculation:
GEOPOLITICS: US PRESIDENT DONALD TRUMP AND US TARIFF POLICY
- BREAKING (JANUARY 31): US PRESIDENT TRUMP SAYS USA WILL IMPOSE 25% TARIFFS ON CANADA AND MEXICO ON SATURDAY (FEBRUARY 1). Trump confirmed 25% tariffs on Canada and Mexico will take effect Saturday but hasn’t decided whether to include oil imports. He claims the tariffs aim to curb illegal immigration and fentanyl smuggling, dismissing concerns over rising costs.
- BREAKING (JANUARY 31): US PRESIDENT TRUMP SAYS CHINA WILL END UP PAYING TARIFFS AS WELL. However, it is not yet clear when and how much. TRUMP: China is going to end up paying a tariff as well. We are in the process of doing a China tariff.
EVENTS:
- FRIDAY, FEBRUARY 7 AT 13:30 GMT: US NONFARM PAYROLLS AND UNEMPLOYMENT RATE (JANUARY). According to Bloomberg, US unemployment rate is expected to come in unchanged at 4.1%. NFP is expected to come on 150k. The report will be closely watched as Fed interest rate decisions in 2025 will depend on the US employment market development.
OTHER NEWS:
- MARKET DEFICIT FOR SILVER IN 2025: The Silver Institute also projected a fifth consecutive year of significant market deficit for the metal in 2025. This outlook is largely driven by strong industrial demand and retail investment, which are expected to outweigh weaker consumption in jewelry and silverware. Key industrial uses include solar panels, electric vehicles, and consumer electronics. While global silver supply is expected to rise this year, with increased output from China, Canada, and Chile, the ongoing deficit is anticipated to continue.
TECHNICAL ANALYSIS:
- STRONG SUPPORT AT $30. Silver has maintained strong support at $30 since May 2024. Since then, Silver would resist staying below $30 as bargain hunters come back to send price up back above $30.
ANALYST EXPECTATIONS
- UBS: The bank targets a price of $36.
- CITIGROUP: The bank targets a price of $40.
- JP Morgan: The bank targets a price of $34.
PRICE ACTION
- ALL-TIME HIGH PRICE: $49.80. Silver jumped to $49.80 in 2011, during the debt crisis in Europe. Currently, Silver
trades around $31.50 and if a full recovery follows, the stock price could see an upside of around 58%. However, the price could decline further.
Silver, January 31, 2025
Current Price: 31.50
|
SILVER |
Weekly |
|
Trend direction |
|
|
49.80 |
|
|
40.00 |
|
|
33.20 |
|
|
30.00 |
|
|
29.50 |
|
|
29.00 |
Example of calculation based on trend direction for 1.00 Lot*
|
SILVER |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
183,000 |
85,000 |
17,000 |
-15,000 |
-20,000 |
-25,000 |
|
Profit or loss in €2 |
176,341 |
81,907 |
16,381 |
-14,454 |
-19,272 |
-24,090 |
|
Profit or loss in £2 |
147,412 |
68,470 |
13,694 |
-12,083 |
-16,111 |
-20,138 |
|
Profit or loss in C$2 |
264,971 |
123,074 |
24,615 |
-21,719 |
-28,959 |
-36,198 |
1. 1.00 lot is equivalent of 10.000 units
2. Calculations for exchange rate used as of 10:30 (GMT) 31/1/2025
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.