Superior broker technology provider since 2010
+1 (315) 675 1086 |

Drifts a Bit Lower to Look for Buyers

Silver has long been considered a safe-haven asset, and its value has only increased as investors have become increasingly concerned about inflation and economic volatility. 

Silver has long been considered a safe-haven asset, and its value has only increased as investors have become increasingly concerned about inflation and economic volatility. Despite its volatility, the silver market has shown significant bullish momentum in recent months, with prices holding up well and expected to continue doing so.


One important area of support for silver is the $25 level, which is a psychologically significant figure. A break below this level could lead to further support at the 50-Day EMA around the $24.50 region, with the $24 level also serving as an important support level. Short-term pullbacks continue to offer value, but caution is advised when investing in this volatile commodity. This is particularly true as the metal is used as an industrial metal, so demand is a mixed picture.

Investors should avoid rushing into the market with significant positions and instead look for buying opportunities during short-term pullbacks. The resistance point for silver remains at the $26.50 level, with a break above this potentially signaling a move toward $27.50. If that area gets broken, then an even bigger move could be coming. In that move, $30 being broken would open a move to the $50 region.

  • Despite the market’s volatility, the massive bullish momentum in the silver market makes it unattractive for shorting.
  • In fact, the weaker US dollar could drive up silver prices even further, given the negative correlation between the two.
  • Furthermore, silver’s use in industrial applications adds to its value and provides investors with yet another reason to consider investing in the precious metal.

Overall, silver continues to attract the attention from investors who are looking for ways to preserve their wealth and capitalize on its increasing demand in industrial applications. With the surge in inflation and concerns around global economic movements, silver is expected to remain an attractive investment option for those seeking safe-haven assets.

In conclusion, while caution should be exercised due to its volatility, silver remains an attractive investment option. Its bullish momentum and importance as a safe-haven asset and in industrial applications make it a valuable addition to any investor’s portfolio. If concerns around economic volatility and inflation persist, silver is expected to continue its upward trend, offering buying opportunities for savvy investors who are willing to navigate this dynamic market.


Ready to trade our Forex daily forecast? We’ve shortlisted the best FX trading platform in the industry for you.

Leave a Reply

Your email address will not be published. Required fields are marked *

YourOwnBrokerage is a leading Technology & Business Consulting firm with a specialized focus in Fintech industry.

RISK WARNING: Trading products are highly speculative in nature and carries a significant level of risk which may not be suitable for all investors. Please ensure you fully understand the risks involved and only invest money you can afford to lose. Seek advice from an independent adviser if at all unsure as to the suitability of investing in such instruments.

The content of this website must not be construed as personal advice. We recommend that you seek advice from an independent financial advisor.

The information on this website is not directed to residents of certain jurisdictions where such distribution or use would be contrary to local law or regulation.

© 2009 - 2024 All Rights Reserved.