Silver’s uptrend extended again today, pushing to fresh record highs above the 66 mark and reinforcing its status as the standout precious metal. Momentum remains firmly on the upside, with prospects growing for a move toward 70 psychological level and potentially beyond. By contrast, Gold continues to struggle near its recent highs, with momentum turning sluggish and risks skewed toward a near-term bearish extension of its medium-term corrective pattern.
One key advantage for Silver lies in its structural fundamentals. As of late 2025, the Silver market is in its fifth consecutive year of supply deficit, with mine production and recycling consistently falling short of global demand from both industry and investors. This persistent imbalance has tightened the market in a way gold has not experienced.
Silver has also benefited from a policy-driven tailwind. In November, the US officially added Silver to its Critical Minerals List for the first time, reflecting its essential role in modern technology and national security. Demand from solar energy, electric vehicles, defense, and high-tech manufacturing continues to accelerate, while supply growth remains constrained.
The US currently imports more than 70% of its Silver needs, highlighting a growing vulnerability as global demand outpaces mine supply. That backdrop strengthens the case for sustained investment demand and reinforces Silver’s appeal relative to Gold.
Technically, Silver has already met 100% projection of 36.93 to 54.44 from 48.60 at 66.11 and there is no clear sign of topping yet. Near term outlook will stay bullish as long as 62.13 support holds. The focus is on whether the next up leg of pull 4H MACD above its falling trend line to confirm revival of upside momentum. Sustained trading above 66.11 will pave the way 70 psychological level or even further to to 138.2% projection at 72.98.
Meanwhile, Gold’s momentum as turned sluggish ahead of 4381.22 high. Break of 4257.10 support will turn bias to the downside for deeper pullback. Further break of the near term rising channel will argue that corrective pattern from 4381.22 has already started the third leg down. Nevertheless, decisive break of 4381.22 will confirm long term up trend resumption.
