Silver keeps rising under pressure from fundamentals and technical signals

The silver market is under significant bullish pressure, reinforced by both fundamental drivers and the technical setup. Geopolitical tensions and supply deficits create favorable conditions for price growth, and many indicators confirm the continuation of this uptrend.

The technical analysis also reflects active buying. The Stochastic Oscillator (%K=51, %D=53) shows a bullish crossover in the middle of the neutral zone, suggesting a potential rise to the 70–80 levels without reaching overbought territory. The Chaikin Oscillator confirms sustained buying activity despite the recent price decline.

The On-Balance Volume (OBV) indicator also proves that the current market uptrend is strong, having held steady since October 9. This is particularly important near historical highs, where liquidity tends to decline. Notably, the $50.00–$50.50 level, which previously acted as resistance, has transformed into a reliable support, additionally strengthening the bullish momentum.

Fundamental factors favor further silver appreciation. Tensions in trade relations between the United States and China, the threat of new tariffs, and political instability in key economies increase demand for safe-haven assets. The shortage of physical metal in London, where the difference between spot prices and futures reached a record $2.50 per ounce, makes the situation even more acute. Meanwhile, expectations of Federal Reserve’s (Fed) interest rate cuts shift investors’ attention from stocks to precious metals.

The combination of fundamental factors and technical signals suggests the probability of testing the 1980 all-time high near $52.50 and potentially reaching $53.00. Reversal risks are limited due to strong support and positive volume dynamics. However, the market should approach the critical level with caution. Silver is likely to correct slightly and accumulate more liquidity before testing the historical high.

Take into account the following trading plan:

Buy silver during a correction toward the $50.50–$49.00 range. Take profit: $53.00. Stop loss: $47.00.

This forecast remains relevant between October 13 and October 20, 2025.