Last week, silver prices attempted to consolidate above the level of 30.8 and to renew monthly highs. The second goal was achieved, but reaching the level of 31 failed to increase the activity of buyers. This triggered a downward price correction, which is still going on at today’s trading session. However, the pullback in silver prices gives a favorable opportunity to increase long positions. It may be profitable to buy silver near the level of 29.6 with the expectation of prices returning to the level of 30.8.


According to StoneX Financial specialists, silver will surpass all precious and non-ferrous metals in terms of price growth this year due to its dual role and demand as a monetary and industrial asset. Analysts Rona O’Connell and Natalie Scott-Gray highlight in their annual metals survey the rate at which the global shift to green technology is taking place. These processes contribute most to the strengthening of demand for silver, copper and tin.


In their opinion, the increase in silver prices may amount to 14% this year. As a result, according to StoneX’s projection, silver prices will reach $33 per ounce. This forecast may also be supported by strengthening of the current market fundamentals and a robust market outlook. Though analysts point out that Donald Trump’s policies may slightly worsen the situation, silver investments are expected to remain very promising.


Representatives of Investing Haven pay attention to the gold-silver ratio, which today reached the maximum since January 2024. According to their estimates, the indicator value above 88 points clearly points to the silver prices having the greatest upside potential in the market. Historically, such a case would always result in a sharp decline in the gold-silver ratio, bringing good profits to the holders of silver.


Ahead of the US Fed meeting on Wednesday, one should be cautious and look for a lower point to enter the silver market. Such an opportunity may come at the level of 29.6, and the bullish target will again be the level of 30.8.



Consider the following trading strategy:


Buying silver near the level of 29.6. Take profit – 30.8. Stop loss – 28.9.