Supply Deficit and Gold Rally Are Key Drivers of Silver
Today, silver price movements are driven by the trade-off between gold's strength and global macroeconomic dynamics. Meanwhile, the industrial sector—particularly renewable energy, electronics, and electric vehicles—continues to drive silver demand, with its usage trend expanding.
Concerns about inflation, geopolitical tensions, and diversification opportunities also strengthen silver's role as an alternative safe-haven asset. However, silver price volatility remains high, so while upside potential remains, investors need to consider the risk of sudden price movements, which are often more intense than gold's. Furthermore, the global silver supply deficit is estimated to reach 206 million ounces this year, up from 167 million ounces last year, creating structural pressure supporting prices.
Silver prices at the time of writing were down -0.28% at $38.136/Toz.
- Buy if the price moves to $38,236
- Sell if the price moves to $38,036
Resistance 2: $38,554
Resistance 1: $38,339
Support 1: $37,996
Support 2: $37,739
DISCLAIMER
Note: This article is for analysis only and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions. (mrv)
Source: Newsmaker.id
