SILVER

SILVER weekly special report based on 1.00 Lot Calculation:

WORLD ECONOMIC FORUM (WEF): DAVOS, SWITZERLAND

• EVENT (JANUARY 19 – JANUARY 23): WORLD ECONOMIC FORUM (WEF) IN DAVOS, SWITZERLAND. The annual meeting brings together political leaders, business executives, economists, celebrities, and journalists to discuss pressing global, regional, and industry agendas. A record 400 top political leaders, including close to 65 heads of state and government, six G-7 leaders expected, nearly 850 of the world’s top CEO’s and more than 100 leading pioneers will convene in Davos this year.
• EVENT (WEDNESDAY, JANUARY 21 AT 13:30 GMT): US PRESIDENT DONALD TRUMP WILL DELIVER A SPEECH. US President Trump is expected to attend the event. According to CNBC, US President Trump’s keynote speech on Wednesday is likely to focus heavily on concerns back home despite the international setting.

GEOPOLITICS: TENSIONS ACROSS THE GLOBE REMAIN HIGH

• GREENLAND ISSUE: US PRESIDENT TRUMP ANNOUNCED 10% TARIFFS STARTING FEBRUARY 1 (JANUARY 18). US Trump announced that tariffs of 10% will be implemented on certain European countries until Denmark allows the purchase of Greenland to the US. The new tariffs are targeting Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland. If Denmark does not agree by June 1, tariffs could rise to 25%.
• MIDDLE EAST TENSIONS REMAIN HIGH: IRANIAN PROTESTS CONTINUE WITH STREET CLASHES AND THE DEATH TOLL RISING (JANUARY 20). The Iranian protests continue into their 24th day, with US navy military assets approaching the Middle East. Given the importance of the entire region for energy commodity supply and the world economy, the potential for high geopolitical instability is rising.

EVENTS:

• THURSDAY, JANUARY 22 AT 15:00 GMT: U.S. PCE PRICE INDEX (NOVEMBER). This is the Federal Reserve’s preferred inflation measure. U.S. inflation has been cooling, with PCE inflation holding at 2.8%. Another soft reading would reinforce expectations of further interest rate cuts, which typically supports silver prices.

SILVER MARKET: HIGHER DEMAND AMID SUPPLY SHORTAGES LEADS TO A WIDENING DEFICIT

• MARKET DEFICIT: SILVER MARKET REMAINS IN DEFICIT SINCE AT LEAST 2016. The silver market faced a deficit of around 300 million ounces in 2025, according to recent reports from The Silver Institute. While the market has been in deficit since 2016, the gap has grown significantly since 2022.
• SUPPLY CONSTRAINTS: SILVER PRODUCTION REMAINS AROUND 800 MILLION OUNCES PER YEAR. Annual production has held near 800 million ounces, remaining largely unchanged since 2016. There is no clear indication that output will be meaningfully higher in 2026 or the following years.
• DEMAND REMAINS STRONG: SOLAR PANELS, ELECTRIC VEHICLES, AND A.I. INFRASTRUCTURE. Silver demand is expected to increase in 2026 and beyond due to rising demand from solar production, electric vehicles, and rapidly expanding A.I. data center infrastructure.

TECHNICAL ANALYSIS

• SILVER PRICE HIT A NEW ALL-TIME HIGH ON JANUARY 20, 2026 ($95.450). Silver price has broken out to a new all-time high of $95.450, confirming the strong uptrend since the beginning of 2025, trading well above moving averages. The zone between $90 and $88 has now become silver’s new support area.
• ANALYSTS’ OPINION: Citigroup forecasts $100.

GRAPH (Daily): January 2025 – January 2026

Please note that past performance does not guarantee future results

SILVER, January 20, 2026
Current Price: 95

Example of calculation base on weekly trend direction for 1.00 Lot¹

1. 1.00 lot is equivalent of 10,000 units
2. Calculations for exchange rate used as of 09:30 (GMT) 20/01/2026

There is a possibility to use Stop-Loss and Take-Profit.

• You may wish to consider closing your position in profit, even if it is lower than suggested one.
• Trailing stop technique could protect the profit.