Silver’s rally picked up pace on Monday, hitting its highest level since late 2011 after last week’s decisive upside breakout. The metal has surged alongside broad-based strength in precious metals, with Palladium reaching its highest since October 2024 and Gold rebounding to a three-week high. Renewed investor interest across the complex suggests increasing demand for portfolio diversification amid geopolitical and trade policy risks.
One notable driver has been rising demand out of India, where investors are shifting from Gold to Silver as a catch-up trade after years of underperformance. Silver is also seeing structural demand growth tied to industrial applications—especially in solar energy and electric vehicles—which is outpacing domestic production. This dual push from both speculative and real-economy buyers is adding fuel to the current run.
Technically, Silver is on track to 61.8% projection of 31.65 to 37.28 from 36.24 at 39.71, or even further to 40 psychological level. However, upside could be capped by medium term level of 100% projection of 21.92 to 34.83 from 28.28 at 41.20 on first attempt.
