Usman Salis
⬤ Silver (XAG) kicked off the week with a sharp move higher, climbing from a session low near $84.54 all the way to $87.73 before pulling back slightly. That kind of intraday range signals just how charged the current market environment is. Bid and ask levels hovering around $86.21-$86.22 confirm the metal is still holding elevated ground despite short-term retracement.
⬤ Traders are now watching closely whether silver can close the gap toward $90 per ounce - a level that tends to draw heavy speculative attention. The $90 threshold isn't just a round number; it carries real psychological weight and could act as a magnet if buying pressure continues.
Silver climbed from below $30 in 2023 to around $87.37 - that's the kind of sustained trend strength you don't ignore.
⬤ Recent technical analysis backs up the bullish case. One piece of coverage on TheTradable examines how the metal broke above a critical resistance zone, with analysts pointing to an inverse head-and-shoulders pattern that projects a $94 price target. That kind of structure suggests the current rally may have more room to run than the short-term chart implies.
⬤ The longer-term picture is just as striking. Silver has been on a nearly unbroken climb since 2023, and according to a separate analysis, it is now approaching a historic 10-month winning streak - an unusually extended run for any commodity. Whether the metal consolidates here or pushes higher, this week's volatility makes one thing clear: silver is firmly back on the radar for both macro traders and commodities-focused investors.
Usman Salis
