Silver Price Forecast 

Silver at the Fundamental Level 

Silver prices rose today after yesterday's declines following the US inflation report. This was influenced by increasing uncertainty in the Middle East and the continued closure of the Strait of Hormuz, which has driven up oil prices and kept inflation concerns in focus.

US President Donald Trump stated that the ceasefire between the US and Iran is in jeopardy after rejecting Tehran's latest peace proposal, further fueling fears of a continued closure of this vital shipping lane.

On the other hand, silver is joining copper in the impact of the expanding use of artificial intelligence.

The metals market is showing a clear divergence between safe-haven demand and infrastructure demand, and the impact of the increasing use of artificial intelligence is currently driving the rise in copper and silver.

Silver at the Technical Level 

Silver prices are currently trading within an ascending price channel on the four-hour timeframe.

It is attempting to rise towards the $89.00/$90.00 per ounce level, after achieving our first target at $84.00 per ounce, as mentioned in our weekly analysis video here

Any break above the channel levels and a close above $90 could push silver prices to at least $95 per ounce.