Technically, silver faces a make-or-break moment at the 50-day moving average of $32.65. If this level fails, traders are watching the $32.19–$32.08 area as the next potential support band. A sustained move below $32.08 opens the door to $31.45, where dip buyers may emerge. To regain upward momentum, bulls need to push prices back above $33.70, with $34.59–$34.87 as the next upside targets.
Industrial Demand Offers Fundamental Support
Silver continues to benefit from its role in key industrial sectors, particularly in clean energy and electronics. Demand from photovoltaic manufacturing remains strong, with China and India leading global solar deployment. Silver’s use in electric vehicles, power electronics, and semiconductors adds structural support that differentiates it from gold. Over 50% of silver demand now comes from industrial applications—a major stabilizer in the face of macro pressure.
Market Outlook: Downside Risk Near-Term, Supportive Base Building
Silver’s short-term outlook tilts bearish unless the $32.65 level holds. A break lower could lead to a pullback toward $31.45. However, robust industrial demand, especially from Asia’s green tech and manufacturing sectors, should help limit deeper declines. Any confirmation of stronger physical buying or positive U.S. data surprises could help the market base out and re-engage higher levels.
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