The silver market saw an uptick on Friday, with prices approaching the $31.50 mark, indicating potential for further gains towards $32.50. Minor price dips could provide buying opportunities, particularly around the $30 level. However, a drop below $30 may trigger a significant decline towards the 50-day EMA or even $28.50. Given silver’s volatility, caution is advised when entering the market to avoid chasing volatile price movements. The metal’s price trend is closely linked to the US dollar and interest rate policies from the Federal Reserve, which currently signal a downward trend. Despite market noise, buyers are currently dominating the silver market. However, a major risk-off scenario could lead to considerable price declines. For a comprehensive overview of economic events, refer to our economic calendar.