Silver has corrected sharply from its record high, but as long as the $50 to $60 support zone holds, the broader bullish structure, persistent market deficit, lingering liquidity risk, and stronger demand from renewables and electrification continue to favor another major rally.
Silver Price Forecast: Bullish and poised to end above $81
Silver continues to see buyers on dips, and with the Iranians announcing they are allowing the Strait of Hormuz to be traveled, it has seen interest rates in the US drop, which provides “rocket fuel” for silver.
Silver continues to threaten the $80 level on Friday, as the markets are moving on interest rates, and the latest headlines about the war or ceasefire. Choppiness is probably going to be the way forward in the meantime.
Silver Price Forecast: XAG/USD rebounds above $79 as weaker US Dollar supports demand
Silver market edges higher but lacks momentum as firm yields and a stable dollar cap gains. Silver outlook hinges on 50-day MA and fresh catalysts.
Silver Price Forecast: XAG/USD wobbles near $79, investors await US-Iran second round talks
Indian banks have halted gold and silver import orders from overseas suppliers, with tons of the metals stuck at customs as a formal government order has not been issued authorising bullion imports, trade sources said.
Gold and silver remain range bound as a stronger US Dollar and uncertain geopolitics limit upside, while the broader bullish structure stays intact, with the next move dependent on a clear breakout and a shift in market sentiment.
With risk assets looking fatigued after a breakneck rally over the past few weeks, and with reversal signals starting to trigger across FX and US rates markets in the wake of stubbornly high energy prices, precious metals appear vulnerable to a deeper unwind, threatening to break the uptrends that have been in place for weeks.
Silver Price Forecast: XAG/USD consolidates below $79.00, around 50% Fibo. level
Silver Price Analysis: Doji caps rally at $81, risks tilt lower