2024-05-07 Silver News
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2024-05-06
Summary of Last Month
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overall Trend of Exchange Rates
After examining the provided dataset, the overall trend observed for the XAG exchange rate can be described as somewhat volatile but with an overall upward trajectory. In the earlier part of the day, the XAG rate starts around 36.77 and experiences periodic rises and dips. The highest point is observed around midday, with the rate going as high as 37.6. After this point, the rate experiences a gradual decrease before rising back up again towards the latter part of the day with the closing rate being around 37.37.
Seasonality or Recurring Patterns
While the dataset only covers a 24-hour period and it is not enough data to accurately assess seasonality or recurring patterns, a preliminary assessment can be made. A trend seen throughout the day is a gradual increase or decrease over several hours, followed by a sharp shift in the opposite direction. In the timeframe given, there are also periods of mild volatility where the exchange rate appears to remain relatively stable, such as around the early hours of midnight.
Identifying Outliers
On the given day, most outliers can be observed around midday. In particular, 14:00 and 14:25 yielded considerably high values compared to the surrounding timeframe. Similarly, around the evening hours of 18:15 to 19:30 also shows a substantial drop in exchange rates, making these points outliers as well. It should be noted that these large changes may occur due to various factors that are out of the scope of this specific dataset, such as economic news releases, geopolitical events, etc.
Disclaimer
These insights are generated from a one-day time series data. A more accurate and comprehensive analysis requires a greater amount of data that spans over several months or years. Furthermore, while the analysis does not factor in considerations such as market opening/closing hours, weekends/holidays, the release of key financial news and reports, these factors can have significant impacts on exchange rates and should be considered for more detailed and precise analysis.
 alt="G Climbs and Drops in Intricate 24-Hour Dance
Silver (XAG) has experienced quite a roller coaster ride in the span of 24 hours beginning on the 6th of May, 2024. The time-series data comprising exchange rates changing on a per-minute basis captured the daily volatility experienced by traders, revealing an intricate dance of fluctuating prices.
Starting at 36.77, the day began uneventfully as it slowly scaled upwards, hitting a high of 37.44898 by 13:00. Then at approximately 14:10, the dance took an exciting leap as the price broke through a ceiling and escalated to an intense high of 37.54036. This was a significant upward surge that likely had many market analysts perked up.
However, as exhilarating as this climb was, the descent back to lower prices was just as dramatic. After reaching the peak of its performance, XAG began a downward spiral that continued with the several daunting plunges throughout the day.
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