Silver Price Forecast Summary

Author: James Hyerczyk

Published: July 4, 2025

Key Points

• Silver is currently holding above $36.30, supported by a rebound in gold prices and a weaker U.S. dollar.
• The market sentiment is bullish for silver, with traders eyeing a potential breakout towards $37.32, which would mark a 13-year high.
• Gold's safe-haven appeal is bolstered by uncertainty surrounding U.S. economic policies, particularly President Trump's tax cuts and trade policies.

Market Analysis

Silver prices have shown resilience in the market, benefiting from gold's upward movement and a softer dollar. The current trading environment is characterized by cautious optimism as traders assess the potential for silver to follow gold's lead, especially with upcoming tariff deadlines.

Technical Analysis

Silver is maintaining a critical support level at $36.30, which is essential for its near-term bullish outlook. Previous attempts to surpass $37.08 have faced challenges, indicating a need for increased buying interest to push prices higher. Key resistance levels to watch include:

• Resistance at $37.08
• Targeting $37.32 for a potential breakout

On the downside, support levels are identified at $35.38 and the 50-day moving average at $34.50, with long-term support at $32.38.

Influencing Factors

The Federal Reserve's monetary policy and U.S. nonfarm payroll data are critical in shaping market expectations. Recent stronger-than-expected payroll figures suggest economic resilience, but slow private-sector job growth keeps traders cautious regarding the Fed's rate decisions. A softer dollar tone is indirectly supporting precious metals, including silver.

Gold/Silver Ratio

The Gold/Silver ratio has decreased from a recent high, indicating a potential favor for gold in the short term. However, if gold continues to rally while silver holds above key support levels, renewed interest in silver could emerge as it plays catch-up in the precious metals market.

Market Outlook

The outlook for silver remains positive, with a bias towards buying on dips above $36.30. If buying momentum resumes, silver could retest $37.08 and challenge $37.32. A decisive close above $37.32 could lead to further gains, while dips towards $35.38 may attract support, maintaining a constructive stance for silver in the near term.

Conclusion

Silver's current positioning above critical support levels, combined with favorable market conditions driven by gold's performance and a weaker dollar, suggests a bullish outlook. Traders should remain vigilant for breakout opportunities as market dynamics evolve.