Silver Holds Steady as Market Awaits Key Policy Decisions

Silver prices opened July 7, 2025, near $36.64 per ounce, according to TradingView charts. The metal traded in a narrow range overnight, reflecting restrained sentiment as traders positioned ahead of a major U.S. tariff announcement scheduled for July 9.

The past 24 hours saw prices oscillate between $36.36 and $37.22, with volumes remaining moderate on major exchanges. The daily chart shows silver consolidating after a strong rally in June.

The price remains above the 50-day and 200-day moving averages, which act as dynamic support. The Bollinger Bands have narrowed, indicating reduced volatility, while the price hovers near the upper band.

This technical setup suggests that the market lacks a clear catalyst for a breakout or breakdown. The Relative Strength Index (RSI) on the daily chart sits close to 60, a neutral reading that signals neither overbought nor oversold conditions.

The Moving Average Convergence Divergence (MACD) indicator shows a positive but flattening trend, with the MACD line slightly above the signal line. This points to waning bullish momentum and a possible pause in the uptrend.

On the four-hour chart, silver displays a sideways pattern, with prices fluctuating between $36.50 and $37.00. The shorter-term moving averages have converged, and the MACD histogram has turned neutral.

The RSI has dipped below 60, reflecting mild profit-taking and a lack of immediate buying pressure. These signals confirm that the market has entered a consolidation phase after the previous rally.

Silver Supported by Strong Industrial Demand and Investment Inflows

Fundamental factors continue to underpin silver’s value. Industrial demand remains robust, especially from the solar and electronics sectors.

Supply constraints persist, as most silver is mined as a byproduct of other metals, and output has not kept pace with demand. The global silver market faces a structural deficit for the fifth consecutive year, according to industry data.

Investment flows also support prices. Silver exchange-traded funds (ETFs) have reported net inflows in recent months, with Indian silver ETF folios rising by 35% in the first five months of 2025.

These inflows reflect investor interest in silver as both an industrial and a precious metal, especially amid ongoing inflation concerns.

Volumes on futures exchanges remained moderate overnight, with around 2,700 contracts traded on the CME Group into the early hours of July 7. No major news shocks or liquidity events occurred during the night, and trading activity reflected typical Sunday-to-Monday patterns.

The market’s direction now hinges on upcoming macroeconomic events, particularly the U.S. tariff decision and signals from the Federal Reserve.

Until a new catalyst emerges, silver is likely to remain in a holding pattern, with traders watching for signs of renewed momentum or a shift in fundamentals.

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