Eseandre Mordi
⬤ Silver had a big day, climbing roughly 6% to trade near the mid-$90s as bulls push to close above the $92 mark - a level technicians have been watching closely. The move was driven by a hotter-than-expected inflation print that sent investors reaching for hard assets, along with equity market weakness that pushed capital into commodities. The chart tells a straightforward story: higher highs after a steep prior advance, with the metal now holding above key support zones following a period of choppy trading.
⬤ This latest bounce follows a powerful rally that carried Silver off its late-2025 lows deep into early 2026, before a pullback earlier this year reset sentiment. Silver Price Tests Key $75-76 Support Zone as Breakout Builds maps out the horizontal support levels near $71 and $64 that held during the correction, while the $100 psychological level looms as the obvious next target. As long as the metal keeps its footing above $92, the broader trend stays constructive.
Clearing significant resistance zones often fuels extended runs in Silver markets - particularly when backed by safe-haven demand and solid technical strength.
⬤ The macro backdrop is doing Silver no harm. Hotter inflation and equity de-risking are a classic combination that sends capital into commodities with both hedge and industrial appeal. A look at Silver Price Analysis: XAG/USD Drops 26% in Historic Daily Selloff shows just how violent corrections in this market can be - which makes the current stabilization above support all the more meaningful. Momentum shifts and consolidation phases like the one Silver just worked through have historically preceded the more sustained advances.
⬤ For now, the setup points in one direction. A confirmed breakout above $92, held on a closing basis, would likely put $100 squarely in focus - and given Silver's dual identity as both an industrial metal and an inflation hedge, that level carries real narrative weight. Silver Price Momentum Pauses After Multi-Year Surge offers useful context on what these consolidation-to-breakout cycles look like historically. In the weeks ahead, Silver's price trajectory will remain one of the more closely watched stories across precious metals and macro markets.
Eseandre Mordi
