The silver market presents a distinctly bullish outlook for the new year. In the very short-term, however, silver might still dip below USD 30 for a final flush out of any weak hands.
If silver holds the $30 support zone, that will break the cartel manipulation of the silver market. Once that happens, $40 is a piece of cake, $45 is likely, and $50 is possible for silver in 2025.
Silver ETFs based in India have experienced remarkable growth since the first one launched just over 2 years ago. Silver holdings exceeded 1,000 tons in August.
It was a pretty quiet week for silver. So far, it looks like silver is holding that uptrend line currently near $30. Below $30 we could fall back to $29 and the 200-day moving average.
