Weekly Special Report: Silver

U.S. FEDERAL RESERVE:

• WEDNESDAY, SEPTEMBER 16 AT 19:00 GMT+1: U.S. FEDERAL RESERVE (FED) INTEREST RATE DECISION. The Fed interest rate currently stands at 3.75%, and many market participants expect an increase to 4%. However, if the Fed decides to keep rates unchanged at 3.75%, this could put negative pressure on the US dollar, supporting silver prices.

PRESS CONFERENCE (FED CHAIR KEVIN WARSH) AT 19:30 GMT+1. Investors will closely watch Warsh’s comments on inflation, the economy, and future interest rates. If Mr. Warsh continues to downplay the likelihood of future interest rate hikes, this could weigh on the US dollar and support silver prices.

EVENTS:

• WEDNESDAY, SEPTEMBER 16 AT 13:30 GMT+1: U.S. RETAIL SALES (AUGUST). Investors will closely watch Retail Sales after July's reading unexpectedly declined, raising concerns about slowing consumer spending. Another weak report could reduce expectations of Federal Reserve interest rate hikes, weighing on the U.S. dollar and supporting silver prices.
• THURSDAY, SEPTEMBER 17 AT 13:30 GMT+1: U.S. PHILADELPHIA FED MANUFACTURING INDEX (SEPTEMBER). A weaker-than-expected reading could reduce expectations of future Federal Reserve interest rate hikes, weighing on the U.S. dollar and supporting silver prices.
• THURSDAY, SEPTEMBER 17 AT 13:30 GMT+1: U.S. WEEKLY INITIAL JOBLESS CLAIMS. A higher-than-expected reading could indicate further weakness in the U.S. labor market, weighing on the U.S. dollar and supporting 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 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 multiple 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 $62.70, and if it fully recovers to its previous all-time high, it could see an upside of around 94%. 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): August 2025 – September 2026

Please note that past performance does not guarantee future results

Silver, September 15, 2026
Current Price:  62.70

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 9:00 (GMT+1) 15/09/2026

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