Fed meeting looms large as gold hovers near $2,650 and silver tests $30 support. Investors brace for potential rate cut signals that could reshape precious metals market trajectory.
Silver surges 4.12% to $32.25, buoyed by bullish technical patterns, shrinking SLV short sales, and rising industrial demand. Key resistance levels could signal the start of a powerful rally.
Short sale volume in the SLV ETF has dropped to levels that have historically signaled major silver rallies, sparking speculation of a potential price surge amid shifting market sentiment.
Geopolitical tensions and an ongoing solar panel trade battle can only help to boost prices
Phil Streible cautioned that silver's failure to surpass a critical resistance level could foreshadow a downward trend.
Phil Streible, Chief Market Strategist at Blue Line Futures LLC, highlights the potential impact of this escalating conflict on the precious metals market.
While gold grabs headlines, silver quietly soars 42.4% in 2024's precious metals rally. With green tech driving demand and supply shortages looming, analysts see $40/oz on the horizon.
Silver Market Facing 4th Straight Deficit in 2024 as Industrial Demand Hits Record - Silver Institute Forecasts
Trump’s win, crypto-friendly stance propels digital currency to all-time highs
"Silver dump after Trump news? Think again! Analysis shows broader market dynamics at play as silver-to-commodities ratio tests 2011 high levels - when silver hit $50/oz..."
JPOST Digital Library
