Silver — Analysis Archive

Silver has rebounded +1.7% today off its falling-wedge lower boundary, but the July 28–29 FOMC decision is the decisive binary event — a hold unlocks a recovery to 61.50+, while a surprise hike risks breaking the 54.25 support and opening a path to 46.82.

Silver has cratered ~52% from its January 2026 all-time high of $121.62 yet the gold-silver ratio at 69:1 and a sixth consecutive annual supply deficit of 46.3 million ounces signal extreme structural undervaluation — the July 28–29 FOMC decision is the next binary inflection point.

Silver has recovered above the psychologically critical $56.00 level after last week's rate-hike-fear capitulation, and with a FOMC hold now ~49% priced for July and structural supply deficits widening to 46.3 Moz, the risk/reward favours upside — but the US-Iran conflict and a surprise September hike remain the key tail risks.

Silver has shed over 7% in one week and sits ~54% below its January 2026 all-time high of $121.62, but a soft June CPI print and widening supply deficit of 46.3 Moz argue the structural bull case is intact pending the July 28–29 FOMC decision.