SILVER
Silver is trading in an upward trend in the medium term, which opens the way for price increases and the formation of new highs. However, if the support level at $104.15 is broken to the downside, we may target the $99 level during today’s trading.
|
Support |
104.15 | 99.00 |
| Resistance | 117 |
130 |
Silver recorded a strong rally during the session, both globally and locally, reflecting clear bullish momentum in the market. On the global front, prices climbed above the $110 per ounce level, approaching the recent peak near $117.70, supported by rising investor demand for precious metals as safe-haven assets amid economic and geopolitical concerns. In addition, the relative weakness of the U.S. dollar further boosted demand for dollar-denominated commodities.
From a financial and investment perspective, the sharp advance in silver prices highlights a clear shift toward real assets as a hedge against inflation and economic uncertainty, particularly in light of ongoing global trade and political tensions. Strong industrial demand, especially from the solar energy and electronics sectors, continues to reinforce the bullish trend. However, elevated price levels remain highly sensitive to volatility and could be exposed to corrective moves if profit-taking intensifies or if supportive factors begin to fade.
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