Silver needs to break above $34 to suggest new highs above $35. At the same time, we would not like to see a pullback that takes out $31.
Often ignored, silver plays a crucial role in modern nuclear energy, but practically unknown is silver's new critical role emerging from the power plants of the future, fusion.
Silver may finally step out of gold’s shadow and embark on a sustained bull market of its own.
Silver imports into India rose sharply last month, hitting the highest January level since Metals Focus began tracking the data in 2008.
The CME Group warehouse has reported 403.2 million ounces as of February 27 – a record high amount of silver stored, reports Bloomberg.
Spot silver gained 27% in 2024. The white metal benefited mostly from physical buying in India and China. Silver ETFs have also been a factor.
Gold appears to be correcting its recent run-up to over $2,900. Gold has failed to take out $3,000, with a high thus far of $2,974.
The growing supply deficit, combined with increasing demand from the tech sector, could push silver prices far beyond previous highs.
