Is Silver on the Way to a New High?

By Andrew Hecht –  Barchart 

While the technical trend is clearly bullish at a fourteen-year peak and after the Q2 quarterly bullish key reversal pattern, silver’s fundamentals have aligned with the price action. In January 2025, the Silver Institute forecasted a deficit in the silver market, with annual demand at 1.20 billion ounces and demand at 1.05 million ounces. The 150 million-ounce shortfall is the fifth consecutive year that silver demand will outstrip supplies. 

When the technicals and fundamentals align, the results can turn parabolic. Silver’s latest peak was just below $40 per ounce, and the technical break with fundamentals winds in the precious metal’s sails could ignite a substantial rally that breaks through the 1980 peak like a hot knife sliced through butter.