Quick overview

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Silver remains in high demand and is testing new highs. The silver markets gained strong support when the gold/silver ratio dropped below 65. 00. Silver has a good chance of reaching $70 before the New Year, and the technical outlook remains bullish.

 

Silver did not just slightly increase in value; it broke through resistance and continued upward, hitting a new intraday high of $ 67. 67.46 and gaining over 9% from last week’s close of $61.91.

The buying appears genuine. Traders currently see silver as a better upside trade than gold because of ongoing physical tightness, increasing confidence in Fed rate cuts, and softer US inflation. The path of least resistance points higher, momentum is strong, and fundamentals support this view.

Traders favor buying on weakness despite stretched positions and the risk of sharper swings because of weaker liquidity as long as real yields stay low and physical supply remains tight. Supply chains for EVs, electronics, and solar power are still profitable.

Demand for fabrication has held up better than many expected, even at current prices. Production schedules have not been significantly reduced, and this steady throughput provides a market floor when profit- taking occurs. This is a key advantage silver has over gold. Silver futures continue to show positive price behavior within a clearly defined cyclical advance

The greyish metal stays above the Daily VC PMI pivot at $ 65. 57, which remains the most important short-term mean-reversion level. While intraday pullbacks toward this pivot should be viewed as rotations rather than trend reversals unless momentum breaks down, sustained acceptance above this level confirms bullish price momentum in the current cycle. From a time- cycle perspective, after the previous correction, silver is in a short- term expansion phase.

A harmonic rhythm aligned with 5-day and micro-cycle extensions aligns with the move from the mid-$64s into the $66+ range. These cycles suggest that instead of starting a new impulsive move from oversold conditions, the price is approaching a natural resistance zone. Expect volatility to increase near resistance as cycles mature.r