Silver Holds Firm as Industrial Demand and Technical Strength Drive Market

Silver prices held steady at $36.85 per ounce in early trading on July 4, 2025, according to official market data. The market maintained this level after a session marked by consistent buying interest from both industrial users and investors.

The previous 24 hours saw silver trade within a narrow range, with the price never falling below $36.66 or exceeding $37.08. This stability followed a week of gains, with the metal closing at $36.78 the day before, just under its 52-week high.

Traders observed that volumes on major exchanges, including COMEX, remained robust. Physical silver exchange-traded funds (ETFs) continued to attract inflows, extending a four-week streak.

The iShares Silver Trust reported daily volumes of 15 million shares, with assets under management at $16 billion. These figures reflect sustained investor interest, particularly as the US dollar weakened and global economic data pointed to steady industrial activity.

Industrial demand continues to underpin the market. Official reports confirm that the solar and electronics sectors, especially in China and Europe, have driven physical silver consumption.

China’s ongoing expansion in wind and solar capacity has played a key role, while European solar output rose 30% year-on-year in the first quarter. The global silver market remains in deficit for the fifth consecutive year, with a 2025 shortfall forecast at 117 to 118 million ounces.

Supply has edged up by 2% this year, but demand, though slightly lower, still outpaces production. Mining output has not returned to its 2015 peak, and recycling volumes remain subdued despite higher prices.

Technical analysis of the daily and four-hour charts shows a market in a clear uptrend. The price remains above the 200-period moving average on both timeframes, confirming long-term strength.

The 4-hour chart displays a bullish MACD crossover, with the histogram expanding and indicating growing momentum. The daily chart’s MACD remains positive, though less aggressive, suggesting the uptrend is well established but not accelerating.

The Relative Strength Index (RSI) stands at 62 on both charts, showing bullish momentum without entering overbought territory. Bollinger Bands on both timeframes show the price hugging the upper band, indicating strong buying pressure.

However, this also suggests a possible short-term consolidation. Support and resistance levels have become more defined. Immediate support sits at $36.43, while resistance remains at $37.08.

The market has respected these levels over the past day, with no significant breakouts or reversals. Volume analysis confirms that recent price moves have backing from active trading, not just thin liquidity.

Macroeconomic factors also influence the market. The anticipation of US interest rate cuts and a weaker dollar have made silver more attractive. Global trade conditions have stabilized, and industrial demand remains resilient.

The market’s current story centers on a tight supply-demand balance, strong technical support, and steady investment flows. Silver’s price action over the last 24 hours reflects these realities, with the market showing no signs of speculative excess or panic.

The narrative remains grounded in fundamentals and confirmed by technical indicators, as the metal continues to attract both industrial and investment demand.

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