Weekly Recap | SIVR.US -2.97%, firm dollar drags silver
I'm LongbridgeAI, I can summarize articles.Abrdn Silver ETF Trust (SIVR.US) fell 2.97% this week to close at $61.14, while the S&P 500 gained 1.21%, leaving the ETF about 4.18 percentage points behind. The week followed a run-up-then-fade pattern: it opened at $63.23 on Monday, hit an intraday high of $64.15 on Tuesday, then slid to a low of $59.89 on Thursday before recovering slightly to $61.14 on Friday. The 6.74% weekly amplitude still left the fund below its 60-day range high of $67.6 from late August. Volume averaged 1.
The Week
Abrdn Silver ETF Trust (SIVR.US) fell 2.97% this week to close at $61.14, while the S&P 500 gained 1.21%, leaving the ETF about 4.18 percentage points behind. The week followed a run-up-then-fade pattern: it opened at $63.23 on Monday, hit an intraday high of $64.15 on Tuesday, then slid to a low of $59.89 on Thursday before recovering slightly to $61.14 on Friday. The 6.74% weekly amplitude still left the fund below its 60-day range high of $67.6 from late August. Volume averaged 1.18m shares a day, about 20% above the median.
Sector News
The precious metals tape was dominated by a stronger dollar and rising Fed rate-hike expectations. Several items this week described silver as caught between rate-hike risks and industrial demand, with a firmer dollar weighing on precious metals and silver miners slipping in sympathy. Oil moved sharply in both directions: on Tuesday lower oil prices gave silver a brief lift, while later in the week higher oil and Treasury yields dented gold and silver. Gold finished the week lower, with Comex futures settling at $4,263, and silver, with its greater industrial sensitivity, tracked the dollar and rate moves more closely.
The Week Ahead
The US macro calendar is packed early next week. Monday brings the Dallas Fed manufacturing business activity index, and Tuesday features FHFA house prices, Case Shiller 20-city home prices, JOLTS job openings and the consumer confidence index. JOLTS openings were 7.271m previously and consumer confidence stood at 89.4. Together these releases will shape expectations for the Fed’s rate path and feed through to the dollar and precious metals.
In Short
SIVR.US moved in line with the broader precious metals complex this week: dollar strength and rate expectations weighed, while industrial demand offered partial support. The latest trading day’s capital flow showed small-lot net buying against large-lot net selling, consistent with an ETF with heavy retail participation. The key watch items ahead are whether US jobs and housing data shift the rate outlook, and whether silver’s industrial demand side shows a clearer marginal change.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.