Silver Price Movement Forecast

Silver on a fundamental level

Silver held above $63 per ounce on Friday, hovering near all-time highs, as the latest interest rate cut by the U.S. Federal Reserve coincided with tighter physical market conditions.

The Federal Reserve cut its interest rate by a quarter of a percentage point, signaling a less hawkish outlook than markets had expected.

Chairman Jerome Powell signaled that another rate hike is unlikely, with one more cut expected next year and another in 2027.

Strong appetite for ETFs and strong consumer demand also supported silver, reinforcing expectations of a market deficit next year.

Industrial demand, especially from the solar, electric vehicle and data center infrastructure sectors, also contributed to price strength.

Silver on a technical level

Silver prices are trading on small candlesticks within an ascending price channel.

Silver is trying to climb towards the upper boundary of the bullish channel, especially after bouncing off the support levels of $62.90 per ounce.

We are now targeting the upper boundary of this channel, which is centered at $65 per ounce and beyond.

Any corrective pullback in silver will be a buying opportunity again towards the next target.

In case of a break of $62.70 and a close below it, we could see some bearish corrections towards 61.60 levels, from where it would be a buying opportunity again.