Market Overview - The US dollar index is trading around 98.25, while spot silver opened at $38.56/oz and is currently around $38.72/oz. The silver T+D is trading at approximately 9338 yuan/kg, and the main Shanghai silver contract is at 9366 yuan/kg [1] - On August 25, the dollar index rose by 0.73% to close at 98.43, while spot silver fell by 0.69% to $38.55/oz. This decline in silver is attributed to a decrease in optimistic sentiment regarding interest rate cuts, leading to a rebound in the dollar index [1] Economic Data - The latest data shows that SLV silver ETF holdings remain unchanged at 15,288.82 tons [2] - Economic indicators released include a 0.6% month-over-month decline in new home sales for July, which was below the expected 0.5% increase. Additionally, the Dallas Fed's business activity index for August came in at -1.8, lower than the expected 0.9, raising concerns about the health of the US economy [3] Silver Market Analysis - The silver market opened at $38.87, reached a high of $38.991, and then experienced a strong pullback, with a low of $38.524. The daily close was at $38.543, forming a long upper shadow on a bearish candlestick. Following a reduction in long positions from $37.8, the strategy is to hold positions at $38, with targets set at $38.5, $38.35, and $38.2 for potential exits [4]