Silver Hot Again, Market Seems to be Running Out of Supply
Silver prices are showing a very strong trend today. Silver prices remain near all-time highs, driven by expectations of easing interest rates in the US and strong investor demand for this precious metal as an alternative asset amid economic uncertainty. Furthermore, the silver market is experiencing a prolonged supply deficit—where demand structurally outweighs global production—which continues to support silver prices fundamentally.
On the demand side, demand for silver from the industrial sector remains strong due to its widespread use in solar panels, electric vehicles, 5G, and other technology sectors. Meanwhile, supply from mining and recycling has not been able to keep up with demand, reinforcing bullish pressure on prices. This condition makes silver not only attractive as a safe haven asset, but also as a vital industrial commodity in the energy transition and modern technology. (az)
The price of silver at the time of this analysis was released was at $64,795
- Buy if the price is at $65,095
- Sell if the price is at $64,495
Resistance 2: $65,695
Resistance 1: $65,395
Support 1: $64,195
Support 2: $63,895
Disclaimer
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
