Silver is catching the same wave as gold, its recent breakout is amplified not just by investor flows but by supply constraints in physical markets. With growing demand coinciding with severe near term tightness, we might see some continued momentum in silver.
Comex Silver has extended its bullish momentum, marking a new all-time high after 2011 at $51.24/ounce and closing the week at $50.28, continuing its strong uptrend amid elevated volatility. With a severe physical shortage, with the one-month lease rate in London surging above 11%, signaling extreme scarcity in the physical market. Such elevated rates reflect tight supply conditions, as holders demand higher premiums for lending their metal.
MCX Silver Futures also displayed sharp volatility during the week, registering a new peak at 153,388, before closing lower at 146,466. The weekly candle formed a bearish doji, indicating indecision after a steep rise, as prices corrected nearly 6% from their highs. Despite the pullback, the broader structure remains resilient, supported by strong fundamentals and technical alignment. Key support levels are placed around 143,500 and 141,000, whereas immediate resistance is seen near the 150,000–153,400 zone indicators from the daily chart show an overbought setup, with the RSI hovering near 78.35, well above the neutral signaling strong yet potentially exhausted momentum. Volume activity has seen a sharp spike, indicating strong market participation, though Open Interest remains moderately capped—suggesting the rally is more momentum-driven rather than fueled by fresh long build-up.
The Gold-Silver ratio, also known as the Mint Ratio, extended its decline by nearly 7%, marking a fresh low at 77.56, reaffirming that silver continues to outperform gold in terms of relative strength.
Overall, the trend in silver prices remains Sideways to Bullish. Traders may look for buy-on-dips opportunities near key support levels while keeping a close watch on resistance zones and any potential signs of momentum exhaustion from technical indicators.
Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
---|---|---|---|---|
141,000 | 143,500 | 146,466 | 150,000 | 153,400 |
Gold Price Forecast for Next Week: Get the latest prediction for gold prices to guide better investment decisions.
Natural Gas Price Prediction for Next Week: Explore the anticipated price range for natural gas in the upcoming week.
Copper Price Forecast for Next Week: Stay informed with next week's forecast for copper prices to track market trends effectively.
Crude Oil Price Forecast for Next Week: Prepare for the upcoming week with valuable insights into crude oil price movements.
Also, get a daily update for currency on commodity market predictions daily
Prediction given by Technical Research Team - Choice.