Silver, like gold, took it a bit under the chin this past week, given all the talk that the Fed won’t cut, then that the Fed will cut. Silver fell 1.4% but remains up 70.7% on the year.
Silver came within a whisker of making news highs, which is hardly surprising, as it has catching up to do relative to gold and is poised to embark on a major parabolic acceleration...
A break to $42 can’t be ruled out. Only new highs would determine the next move. And right now, we appear to be failing it...but we still expect gold/silver rally to continue into 2026.
We may have a support zone near the 50-day MA. A break under $46 would send us down towards $43 which may be our ultimate target. Silver needs to regain above $52.60 to suggest new highs.
Demand for silver far outpaces supply. But that didn’t stop a 6.1% decline this past week. Like gold, silver’s price rise has been dramatic and in need of a correction.
Despite it all, silver has surged 77% in 2025. But the more recent moves seem to be too much, too fast, too soon. Hence, profit-taking may be in order. Support is seen at around $43...
