Core Viewpoint - Silver prices have rebounded from a low of $70.40 to the $75.00 range, with significant volatility attributed to thin year-end liquidity [1]. Group 1: Price Movements - Silver experienced a decline of over 7% on Tuesday but is gradually recovering some of its losses [1]. - The current trading price of silver is around $75.65 after hitting a low of $70.53 on Monday [4]. - The resistance level for silver is anticipated at $76.50, followed by psychological levels at $80.00 and historical highs at $85.87 [4]. Group 2: Market Influences - Global tensions and expectations from the Federal Reserve's meeting minutes are providing support for silver prices [1]. - The Federal Reserve's recent meeting minutes are expected to reflect significant internal disagreements, raising hopes for potential interest rate cuts beyond the projected 25 basis points [1]. Group 3: Technical Analysis - The 50-period simple moving average is located near $70.89, which has provided support for silver prices [4]. - Mixed signals from oscillators indicate that bearish momentum has not fully dissipated, while the Relative Strength Index (RSI) has entered bullish territory above the critical 50 level [4]. - A bearish engulfing pattern on the daily chart suggests a potential for deeper corrections [4].

Core Viewpoint - Silver prices continued to rise, reaching a record high of $69.46 per ounce, driven by strong buying support and a bullish market trend [1]. Group 1: Price Movement - On Monday, silver prices showed a typical upward trend with higher highs and higher lows, indicating strong buying support [1]. - The price reached a low of $67.33, only slightly dipping below the previous Friday's range, further demonstrating robust demand [1]. Group 2: Resistance Levels - Despite the strong gains, silver prices encountered potential resistance in the range of $68.37 to $68.94, which includes significant Fibonacci extension levels [3]. - The next key resistance level is identified at $71.79, with a strong breakout above Monday's high needed to target this level [3]. Group 3: Market Structure - This week marks the fifth consecutive week of rising weekly highs and lows for silver, confirming strong demand and bullish momentum [4]. - The recent breakout above the upper trendline of the ascending channel has further validated the bullish outlook for silver [4]. Group 4: Support Levels - Key dynamic support is currently near the 10-day moving average at $64.36, which serves as the first line of defense for bulls [5]. - Additional support is found at the previous week's low of $61.75, which may act as a barrier against deeper corrections [5]. Group 5: Outlook - The continuous record-breaking performance of silver highlights strong demand momentum, but the steep upward slope and proximity to resistance levels raise concerns about potential overbought conditions [6]. - Any pullback must hold above the 10-day moving average at $64.36 and the previous week's low at $61.75 to maintain the bullish trend [6].

Core Viewpoint - Silver prices have significantly increased this year, surpassing traditional safe-haven asset gold, driven by cultural and festive consumption, strong industrial demand, and ongoing supply constraints [1] Group 1: Demand Factors - India, the largest silver-consuming country, has seen a surge in demand this year [1] - Industrial applications of silver represent a major structural factor contributing to its price increase [1] Group 2: Supply Factors - Global silver mine production has been declining over the past decade, with only about 28% of global silver production coming from primary silver mines; the majority is a byproduct of copper or gold mining [1] Group 3: Future Outlook - BNP Paribas forecasts that silver prices could reach $100 per ounce by the end of next year [1]

Core Viewpoint - Silver is attempting to maintain its recent rebound momentum from a two-week low reached last Friday, with current technical formations validating bullish tendencies and providing effective support for future price increases [1]. Technical Analysis - If silver effectively breaks below the 200-period EMA on the four-hour chart, the current bullish pattern may face a risk of invalidation. As of Tuesday's Asian trading session, silver stabilized around $51.45, showing little change for the day. The broader technical landscape remains favorable for bulls, supporting the likelihood of a continuation of the rebound from the two-week low of approximately $48.65-$48.60 reached last Friday [2]. - On the four-hour chart, silver remains above the upward 200-period EMA, with the current cut-in point forming dynamic support in the $49.35-$49.30 range, effectively consolidating the current rebound pattern and maintaining a short-term bullish inclination. Additionally, the MACD indicator has broken above the signal line into positive territory, with the histogram showing sustained expansion, indicating a continuous strengthening of bullish momentum [2]. - The relative strength index (RSI) on the four-hour chart continues to operate above the midline, showing a mild bullish trend, which resonates with the current upward trend. This phenomenon further solidifies the improved market sentiment, suggesting that as long as silver holds above the trend's foundational level, the market is likely to continue its upward expansion. Silver is expected to break through the psychological barrier of $52.00 and target the swing high area of $52.45, subsequently gearing up to reclaim the $53.00 integer level [2]. Potential Price Movements - Conversely, if silver prices retreat to the daily low of around $51.00 during the Asian trading session, the upward momentum will be curtailed, potentially attracting new buyers before the psychological barrier of $50.00. A break below the $50.00 level could drag silver prices down to the 200-period EMA, around $49.30. A decisive break below this EMA anchor would soften the outlook, while holding above this level may pave the way for further upward movement in the next four hours [3].

Core Viewpoint - Citibank has lowered its short-term price targets for gold and silver due to changes in the global market environment [1] Price Forecast Adjustments - The gold price forecast for the next 0 to 3 months has been reduced from $4000 per ounce to $3800 per ounce [1] - The silver price forecast has been decreased from $55 per ounce to $42 per ounce [1]

Core Viewpoint - The average price of gold is projected to reach $3,400 per ounce in 2025, an increase from the previous estimate of $3,220 per ounce. Silver's average price is expected to rise to $38.45 per ounce, up from $34.52 per ounce, driven by economic and geopolitical uncertainties [1]. Group 1 - The projected average price of gold for 2025 is $3,400 per ounce [1]. - The previous estimate for gold was $3,220 per ounce [1]. - The projected average price of silver for 2025 is $38.45 per ounce [1]. Group 2 - The previous estimate for silver was $34.52 per ounce [1]. - The strong appeal of gold as a safe-haven asset is supported by ongoing economic and geopolitical turmoil [1]. - The average price of gold is expected to reach $4,275 per ounce in 2026, while silver is projected to be $50 per ounce [1].

Core Viewpoint - Silver prices are currently consolidating, with a critical support level at the 10-day moving average of $51.28, which is essential for maintaining the bullish structure that began from the low of $36.96 in August [1][3]. Price Movements - Silver traded within the range of $51.28 to $52.78 on Monday, closely aligned with the 10-day moving average as a short-term support level [1]. - A record high of $54.49 was reached last week, but a bearish engulfing pattern has led to a pause in the upward momentum [1]. - A decisive break below $51.28 would signal weakness, while a drop below the previous low of $50.62 could pave the way for further declines [1][2]. Support and Resistance Levels - The 10-day moving average is crucial for the current upward trend, with the recent low confirming its importance [1]. - The 20-day moving average is at $48.77, which remains upward and has crossed above the upper boundary of the short-term rising channel, making it a logical next support level [1]. - Key resistance is identified at $54.49, and maintaining a close above $52.78 is necessary to keep the bullish outlook intact [2][3]. Market Sentiment - The market is showing signs of weakening bullish momentum after five weeks of closing in the upper third of the range, with last week's close in the lower half indicating a potential shift in sentiment [1]. - The Relative Strength Index (RSI) has dropped below 70 after a month of being overbought, further supporting the notion of cooling market conditions [1]. - Any rebound in prices will face resistance, and the market sentiment may shift if key resistance levels are not breached [2][3].

Core Viewpoint - Silver prices have continued to rise for the fourth consecutive trading day, reaching their highest level since September 6, 2011, driven by a weaker dollar and declining U.S. Treasury yields ahead of the Federal Reserve's decision [1][2][3]. Group 1: Market Dynamics - The recent bullish momentum in silver is supported by a weaker dollar and lower U.S. Treasury yields, which have made silver more attractive to non-dollar holders and reduced the opportunity cost of holding non-yielding assets like silver [2][3]. - As of the latest report, silver is trading around $42.65, marking an increase of nearly 1% on the day [3]. Group 2: Technical Analysis - Technically, silver remains in a strong bullish trend, trading well above key moving averages, with the 21-day moving average at $39.96 and the 50-day moving average at $38.79 [5]. - The Relative Strength Index (RSI) is around 75, indicating an overbought condition, but this reflects ongoing demand, while the Average Directional Index (ADX) has risen to 31.98, confirming the strength of the upward trend [5]. - Immediate resistance levels are at the psychological mark of $43.00 and the peak of $43.40 since September 5, 2011. A sustained breakout above these levels could lead to a rise towards the high of $44.24 from August 24, 2011 [5]. - On the downside, initial support is seen at $41.50, followed by $40.50 and the $40.00 round number [5]. Group 3: Speculative Positions - Increased speculative positions have added weight to the bullish sentiment, with non-commercial speculators holding 72,450 long contracts compared to only 18,513 short contracts. In contrast, commercial participants hold a significant net short position of 113,565 contracts [5].

Core Viewpoint - ANZ Bank has raised its gold price target for the end of 2025 from $3,600 per ounce to $3,800 per ounce, expecting gold to reach nearly $4,000 per ounce by June 2026 [1] Summary by Category - **Gold Price Forecast** - The gold price target for the end of 2025 is now set at $3,800 per ounce, an increase from the previous target of $3,600 per ounce [1] - ANZ Bank anticipates that gold will peak at nearly $4,000 per ounce by June 2026 [1] - **Silver Price Forecast** - The silver price target for the end of 2025 has been raised to $44.7 per ounce [1]

Core Viewpoint - The recent speech by Federal Reserve Chairman Jerome Powell at Jackson Hole has reinforced expectations for a rate cut in September, leading to a stabilization of the dollar and U.S. Treasury yields, which in turn has supported silver prices [1]. Group 1: Market Dynamics - Silver prices have consolidated gains, holding above key support levels around $38.00, with the 100-day moving average and the upper boundary of a triangle trendline providing strong support [1]. - Following Powell's dovish remarks, silver broke above the upper boundary of a symmetrical triangle, reaching its highest level since July 25 [1]. - As of the latest update, silver is priced around $38.90, having seen a low of $38.57 during European trading hours [1]. Group 2: Technical Analysis - The breakout above the triangle trendline and the psychological resistance at $38.00 indicates a significant shift in momentum, confirming that the overall upward trend is likely to continue [3]. - Momentum indicators remain bullish, with the Relative Strength Index (RSI) rising to 68, suggesting strong underlying demand despite nearing overbought territory [3]. - The Moving Average Convergence Divergence (MACD) shows a bullish crossover above the signal line, with an increasing histogram confirming the establishment of bullish momentum [3]. Group 3: Future Outlook - If silver prices continue to break above the recent high of $39.06, it may open the door to test the next key resistance level at $39.53, which is a multi-year high [3]. - Initial support is seen at $38.50, followed by the 100-day moving average around $37.98, which aligns with the upper boundary of the triangle formation [3]. - A drop below this support zone could lead to a retest of the pivot level at $37.50, which has previously triggered a rebound; however, sustained declines below this level would indicate a bearish shift and could push prices down to $37.00 [3].