Silver futures symbol (SI) saw technical buying as moving

Silver futures symbol (SI) saw technical buying as moving averages aligned bullishly on daily charts. With global bond yields trending downward, the commodity may find a strong bid into quarter-end portfolio rebalancing. It has prompted calls for a high-tech “drone wall” to protect the Continent from future incursions by Putin’s unmanned arsenal. After reaching a fresh 14-year high in overnight trading, silver futures (/SIU5) pulled back during early US trading. A softer dollar and lower yields failed to keep the metal afloat after a big 2.26% rally yesterday that broke the earlier swing high from July. Today’s speech from Powell is in focus, but it’s unlikely he will provide commentary on monetary policy, given that the Fed is in a blackout period with its meeting next week. Silver remains on track to gain over 8% this month. The silver futures symbol (SI) may see increased price swings this week as options expirations approach. Implied volatility has risen to 23%, the highest in two months, often preceding a breakout move.