Silver Plummets on Charts But Remains Strong on Fundamentals
Silver prices faced selling pressure in today's trading, although long-term fundamentals continue to support a bullish outlook. In the futures market, most technical indicators are showing Strong Sell signals, with the price breaking through the minor bullish trendline and remaining below the moving average (EMA50). This condition indicates the potential for further correction in the short term.
However, from a fundamental perspective, the outlook for silver remains positive. Demand from the industrial sector—particularly renewable energy, electronics, and automotive—continues to increase, while global mining supply is expected to remain tight.
HSBC even raised its 2025 average silver price projection to $35.14 per ounce, up from its previous estimate of $30.28. The global production deficit, predicted to reach 206 million ounces this year, also strengthens medium- to long-term bullish sentiment.
Given this situation, silver faces a dilemma: technical pressure signals the risk of a short-term correction, but fundamentals still indicate the opportunity for future price increases.
Source: Newsmaker.id
