The silver market experienced an initial drop in prices before reversing course and showing signs of a rebound. With prices surpassing the $31 mark, analysts predict further upward movement, with support levels at $30 and $28.50. The anticipated rise in silver prices is attributed to inflation concerns and the Federal Reserve’s monetary policy decisions in response to a growing economy. While the market for precious metals typically benefits from lower interest rates, silver’s dual role as an industrial metal is also a factor driving its performance. Investors are advised to expect fluctuations in prices, which may present new opportunities for trading. Despite ongoing market volatility, shorting silver at its current levels is considered risky. Recent trends in the silver market have been influenced by interest rates, the strength of the US dollar, and concerns about the dollar’s stability. However, potential shifts in market sentiment could lead to sharp declines in silver prices, especially in risk-averse scenarios. While the current market conditions appear favorable for silver, vigilance is advised due to the unpredictability of sudden market movements linked to macroeconomic events. For an overview of the latest economic developments, refer to the economic calendar.