Editor’s Note
This analysis highlights the complex forces shaping the silver market. While structural industrial demand provides a steady floor, the primary near-term catalysts appear to be monetary—namely, interest rate trajectories and dollar strength. Investors should watch central bank policy shifts closely, as these may outweigh the currently tempered physical fundamentals.
Market Analysis and Outlook
“A combination of falling real interest rates, a weaker USD, and a clear shift toward monetary easing by major central banks could still see upward movement on silver prices. Industrial demand from solar, electronics, and electrification will also play a key element, but this is currently steady rather than explosive, and current inventories and recycling flows can cap price spikes,”
said Ross Maxwell, Global Strategy Operations Lead, VT Markets.
Market Performance
Hindustan Zinc shares fell 2% as silver prices dropped, with precious metal ETFs declining by up to 3%.