Silver $50! Momentum or Euphoria?
Silver recently hit US$50/oz—even briefly touching the US$51 range—driven by precious metals euphoria after gold broke through US$4,000 and expectations of a Fed rate cut pushed down real/dollar yields. Momentum from "following the gold rally," short covering, and speculative pressure at the psychological US$50 level contributed to the intraday rally.
Behind this rapid surge, silver's fundamentals are indeed tight: the market is projected to be in deficit again in 2025, while industrial demand (especially solar panels/electronics) continues to rise; the Indian festival season is also driving physical demand. Looking ahead, be wary of volatility and profit-taking around US$50, but as long as the supply deficit persists, the broad trend in silver remains constructive.
The price of silver at the time of this analysis was released was $50,635
- Buy if the price moves within $50,935
- Sell if the price moves within $50,335
Resistance 2: $51,535
Resistance 1: $51,235
Support 1: $50,035
Support 2: $49,735
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
