Weekly Special Report: Silver

EVENTS:

• WEDNESDAY, AUGUST 26 AT 13:30 GMT+1: U.S. CORE PCE PRICE INDEX (JULY). Investors will closely watch the Federal Reserve’s preferred inflation measure after Core PCE remained at 3.3% in June. Another decline could further reduce expectations of interest rate hikes, weakening the U.S. dollar and supporting silver prices.
• WEDNESDAY, AUGUST 26 AT 13:30 GMT+1: U.S. GROSS DOMESTIC PRODUCT (GDP) (Q2). A preliminary report published at the end of July showed a decrease from 2.1% to 1.5% despite no change was expected. Another disappointing report may increase concern regarding the U.S. economy and have a negative impact on the U.S. dollar and supporting silver prices.

U.S. GOVERNMENT:

• BREAKING (AUGUST 19): U.S. TREASURY ANNOUNCES MORE AGGRESSIVE LONG-TERM BOND REPURCHASE PROGRAMME. The Treasury will double the size of its long-term bond repurchase operations to $4 billion from $2 billion, starting September 9. With around $69 billion already planned through November, the larger operations could add at least $14 billion, bringing the total to around $83 billion. The move could increase market liquidity, potentially weighing on the U.S. dollar and supporting silver prices.

JACKSON HOLE ECONOMIC SYMPOSIUM HOSTED BY THE U.S. FEDERAL RESERVE

• EVENT (AUGUST 27 – 29): JACKSON HOLE ECONOMIC SYMPOSIUM HOSTED BY U.S. FEDERAL RESERVE. The annual Jackson Hole Economic Symposium, hosted by the Federal Reserve Bank of Kansas City, brings together global central bankers, economists, and policymakers to discuss key economic challenges. Markets will focus on U.S. monetary policy, inflation, economic growth, and future interest rate decisions under new Fed Chair Kevin Warsh.
• EVENT (EXPECTED: FRIDAY, AUGUST 28 AT 15:00 GMT+1): U.S. FED CHAIR KEVIN WARSH SPEECH. His first Jackson Hole speech as Fed Chair could provide important insight into the Fed’s policy direction.

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 could increase during 2026 and beyond due to rising demand from solar production, electric vehicles, and rapidly expanding A.I. data center infrastructure.

TECHNICAL ANALYSIS AND PRICE ACTION

• SUPPORT AREA: $60 - $55. Since late 2025, silver has approached the $60 level only four times, with each test followed by a rebound, highlighting the area's significance as a key support level. However, the price could also decline.
• SILVER PRICE HIT A NEW ALL-TIME HIGH ON JANUARY 29, 2026 ($121.49). Silver currently trades at $69.40, and if it fully recovers to its previous all-time high, it could see an upside of around 75%. However, the price could also decline.
• FORECAST: Bank of America forecasts $86; UBS forecasts $83; JPMorgan forecasts $85; Deutsche Bank forecasts $100; Goldman Sachs forecasts $86; Citigroup $90;

GRAPH (Daily): September 2025 - August 2026

Please note that past performance does not guarantee future results

Silver, August 21, 2026
Current Price:  69.40

Example of calculation based on weekly market trend for 1.00 Lot¹

1. The above calculations are made based on 1.00 lot which is equivalent of 10000 units
2. Calculations for exchange rate used as of 10:30 (GMT+1) 21/8/2029

You can use risk management tools such as Stop-Loss and Take-Profit.