Strong Fundamentals, Silver Still Has Room to Strengthen
Silver prices traded steadily this morning in the range of $37–38 per ounce, supported by strong fundamentals. The market remains wary of a global supply deficit due to weak mining production growth, while demand from the industrial sector—particularly solar energy and electronics—continues to increase.
HSBC recently raised its 2025 average silver price projection to $35.14/oz, reflecting the potential for further strengthening. Other factors supporting prices include expectations of interest rate easing by the Federal Reserve and a weakening US dollar, which makes the precious metal more attractive to global investors.
At the time of writing, silver was down 0.45% at $38.196/oz.
- Buy if the price moves to around $38,296
- Sell if the price moves to around $38,096
Resistance Level 2: $38,576
Resistance Level 1: $38,371
Support Level 1: $38,021
Support Level 2: $37,816
DISCLAIMER
Note: This article is for analysis only and is not a definitive reference. Please consider fundamental and technical aspects of trading before making any investment decisions.
Source: Newsmaker.id