Today, Friday (June 6th) during the Asian trading session, spot silver is currently trading above the 35.93 line, opening at $35.64/ounce. As of press time, spot silver is temporarily at $35.82/ounce, up 0.49%, having touched a high of $35.93/ounce and a low of $35.60/ounce. Currently, the intraday short-term trend for spot silver appears bullish.

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US-China Phone Call Grips Global Markets, Spot Silver Surges to 12-Year High

Today, Sunday (April 27th), the market is closed. Spot silver is currently trading below the 33.10 line, opening at $33.56/ounce. As of press time, spot silver is temporarily quoted at $33.08/ounce, down 1.46%, having touched a high of $33.67/ounce and a low of $32.76/ounce. Currently, the intraday short-term trend for spot silver appears bearish.

Today, Monday (April 18th), the silver market is closed due to the Good Friday holiday. Spot silver is currently trading below the 32.58 line, opening at $32.78/ounce. As of press time, spot silver is temporarily quoted at $32.53/ounce, down 0.66%, having touched a high of $33.09/ounce and a low of $32.24/ounce. Currently, the intraday short-term trend for spot silver appears bearish.

Today, Friday (June 6th) during the Asian trading session, spot silver is currently trading above the 35.88 line, opening at $3.64/ounce. As of press time, spot silver is temporarily at $35.88/ounce, up 0.64%, having touched a high of $35.89/ounce and a low of $35.60/ounce. Currently, the intraday short-term trend for spot silver appears bullish.

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The phone call between US President Donald Trump and Chinese President Xi Jinping has become a focal point for global financial markets. Trump stated that the two sides reached "very positive conclusions" on trade issues, while Chinese officials emphasized that negative measures against China should be revoked.

US May ADP new employment recorded only 37,000, significantly lower than the expected 115,000. The ISM Services PMI also fell below the boom-bust line to 49.9, indicating a continuous decline in economic momentum and triggering strong expectations for two Fed rate cuts this year (with a rate cut probability as high as 70%). Meanwhile, Trump again pressured Fed Chair Jerome Powell to lower interest rates to boost economic performance, further suppressing the dollar and pushing up dollar-denominated precious metals.

Geopolitical tensions in Ukraine and the Middle East continue to escalate, and policy uncertainties arising from the US fiscal deficit and the $4 trillion tax reform bill are continuously rising, causing market funds to flow continuously into safe-haven assets. Silver demand is strong, especially in India, where silver prices have hit new historical highs, indicating a significant increase in global market willingness to allocate to silver.

The US Department of Labor will release the highly anticipated May non-farm payrolls report on Friday. Market expectations indicate that the unemployment rate in May will remain stable at 4.2% for the third consecutive month, with an estimated 130,000 new jobs added. While this figure is lower than April's 177,000, it is still well above the roughly 100,000 increase considered a healthy indicator for the labor market. This suggests that despite signs of cooling, the labor market remains resilient, providing support for the Fed to maintain its current interest rate policy.

Latest Spot Silver Market Analysis

In contrast to gold's pullback, spot silver jumped 3.3% on Thursday, closing at $35.61, reaching its highest level since February 2012. Silver's strong performance is partly due to increased industrial demand, particularly in the new energy and electronics sectors. The gold-to-silver ratio fell from 105 in April to 94, indicating that silver's valuation relative to gold is recovering. The breakthrough in silver prices may further attract investor attention to the precious metals market, providing additional momentum for gold's long-term trend.

Although technical indicators show some signs of overbought conditions, considering that momentum has not yet exhausted, silver is still expected to continue its inertial surge in the short term. The key lies in whether it can effectively break through the Fibonacci 123.6% target at $36.10. If it breaks through with significant volume and stabilizes above it, the next target will point to $37.04 (Fibonacci 138.4% extension). However, traders should be wary of high-level volatility and profit-taking risks, paying attention to the support performance at the $35.00 line.

Latest Spot Silver Market Analysis

In contrast to gold's pullback, spot silver jumped 3.3% on Thursday, closing at $35.61, reaching its highest level since February 2012. Silver's strong performance is partly due to increased industrial demand, particularly in the new energy and electronics sectors. The gold-to-silver ratio fell from 105 in April to 94, indicating that silver's valuation relative to gold is recovering. The breakthrough in silver prices may further attract investor attention to the precious metals market, providing additional momentum for gold's long-term trend.

Although technical indicators show some signs of overbought conditions, considering that momentum has not yet exhausted, silver is still expected to continue its inertial surge in the short term. The key lies in whether it can effectively break through the Fibonacci 123.6% target at $36.10. If it breaks through with significant volume and stabilizes above it, the next target will point to $37.04 (Fibonacci 138.4% extension). However, traders should be wary of high-level volatility and profit-taking risks, paying attention to the support performance at the $35.00 line.