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Spot Silver 26 Jan 2011

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Silver Chart 26 Jan 2011

Spot silver has been following the gold price down but has, so far, managed to avoid falling below the 100 day moving average, closing yesterday’s session at $26.83 per ounce. ¬†However, the most important aspect of silver trading at the moment is the conflicting signals being seen in the silver market where prices appear to have gone into backwardation, something not seen since October 2008. ¬†Backwardation is, of course, when future prices are lower than those current. ¬†The FT’s article explains this state of affairs in more detail.

Silver’s Conflicting Signals