Silver

Key insight

Silver is in a deep corrective phase (~51% off its January 2026 all-time high of $121.67), but the combination of a Fed pause, dollar softness, and structural supply deficits driven by solar/EV demand makes the mid-$57 level a credible near-term floor — the risk/reward favours cautious longs above that zone.

Silver has bounced decisively off mid-$57 support and trades at $58.81, with the Fed on hold, the dollar softening, and the Iran geopolitical risk premium fading — clearing the path toward the key $60 round-number resistance.

Main risk

US Non-Farm Payrolls (Friday, Aug 8)

A stronger-than-expected jobs print could reignite Fed hawkishness, lift real yields and the US dollar, and break silver back below the critical $57 mid-range support.