With the recent ‘semi’-deal reached. EW expects Silver prices to pick up, gaining momentum as everything remains uncertain (at least until March). However, we estimate that there will be no reversal of trends as yet. Silver will not hit US$35 any time soon.
Beyond this, Silver also looks to the increased industrial output for added upward pressure on prices. On the technical side, Silver seems to have hit its 5Y support, reversing from the slowdown experienced during the holidays.
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