Today, Thursday (June 12th) during the Asian trading session, spot silver is currently trading above the 36.40 line, opening at $36.24/ounce. As of press time, spot silver is temporarily at $36.35/ounce, up 0.27%, having touched a high of $36.40/ounce and a low of $36.21/ounce. Currently, the intraday short-term trend for spot silver appears to be consolidating.

Key News Express

Investors are aggressively buying silver and platinum in search of "gold alternatives" and a "dollar hedge," causing the prices of these two metals to surge. Gold prices have seen a historic rally amid threats to the dollar's status as a global capital safe haven. However, concerns are now rising that gold might be overvalued, and other precious metals like silver and platinum are starting to catch up.

Analyst Nicky Shiels stated: "Gold was the go-to dollar hedge, and that trade has had its iteration." "Gold prices have almost doubled (in the past two years), and now the mentality is what's next to rally."

Analyst Suki Cooper said that historically, the gold-to-silver ratio has been around 65, but it is currently at 93, indicating that silver is cheap relative to gold. High gold prices have also prompted increased demand for platinum jewelry. Cooper stated that platinum is facing a structural supply deficit for the third consecutive year, with prices only now starting to rise, and above-ground platinum inventories have recently been depleted. Cooper noted: "We expect severe deficits for both silver and platinum in 2025." "So there's further upside support." Investor demand for platinum is also on the rise, with platinum ETFs seeing 70,000 ounces of inflows since the beginning of the year.

Latest Spot Silver Market Analysis

Although silver prices have undergone violent volatile adjustments for two consecutive months, with a biased doji candlestick closing and no new highs, there's a certain expectation of a top. However, it has also maintained its bullish trend support above the 5-month moving average since its rally began last year, keeping the bull market trend unchanged. Furthermore, the trend has opened up new bull market space since strongly breaking through and stabilizing above the ascending trendline pressure in March this year, suggesting further upside potential for new highs in the future.

Therefore, even if bullish momentum shows signs of topping, the trend will mainly involve continuous wide-range oscillation above the ascending trendline, and will later strengthen and climb again.