Silver Almost Hits $37! What's Making This Metal Wild Again ?
Silver is currently trading at around $36,071 per ounce, showing a slight correction after the previous rally. Market sentiment is still influenced by global concerns: still-high inflation is driving purchases of precious metals as a hedge, while the strength of the US Dollar is putting pressure on silver prices in the spot market. On the demand side, the industrial sector, especially manufacturing and renewable energy, continues to support prices, although macro volatility has limited movement.
Fundamentally, the Federal Reserve's interest rate hikes have increased the opportunity cost of holding non-yielding assets such as silver, but inflation concerns and geopolitical protectionism—especially from the Middle East—act as restraining factors for support. On the supply side, disruptions in metal distribution and increased demand for electronic components are also providing support.
In the short term, analysts expect silver prices to potentially move sideways in the range of $35.50–$37.00 per ounce. If macro pressure dampens or inflation climbs higher, silver could rise again closer to $37.00, a stronger dollar or hawkish signals from central banks could cause a correction below $36.00. (ayu)
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