On Thursday, the silver market received significant support, hovering around $30.50 and staying above $30. This was reinforced by the presence of the 50-day Exponential Moving Average (EMA) in the vicinity, leading to a bounce-back in the market. Factors such as the release of higher-than-expected Consumer Price Index (CPI) numbers and an increase in US unemployment claims have created some market volatility. The focus now turns to whether there will be an increase in demand for silver, especially with central banks clarifying their monetary policies. Expectations of inflation potentially driving up silver prices are also in play. Furthermore, the possibility of more investments in businesses could further boost silver, given its dual role as an industrial metal and precious metal. Despite the various market dynamics, technical analysis indicates that the $30 support level is likely to hold. As such, investors are advised to consider a “buy on the dip” strategy. However, a breakdown below $29.70 could signal potential challenges for silver.