Silver Price Halved, Market Deficit Not Closed

Silver prices surged above $121 at the end of January before falling back to around $63. Despite this sharp decline, the global silver market is expected to remain in a supply deficit in 2026. Despite the halving of prices, tightness in the physical market persists. Market participants are questioning why physical demand remains strong even as prices fall. The expectation of a supply deficit indicates that industrial and investment demand for silver continues. The tightness in the physical market shows that the supply-demand imbalance in pricing persists. The fact that the deficit has not closed despite the decline in silver prices highlights the complexity of market dynamics. Investors are closely monitoring the divergence between physical market conditions and price movements. Not investment advice.

📊 GOLD — Piyasa Yorumu

▼ down · 55%

The sharp decline in silver prices points to a weak outlook in the precious metals complex and could also exert downward pressure on gold. However, gold itself has fallen 3.8% in the last 24 hours and the RSI is at 49, in neutral territory; this suggests that part of the decline may already be priced in. MACD is below the signal line and the price is almost equal to the SMA20; short-term direction remains uncertain. The news may have a limited direct impact on gold, as silver and gold dynamics can diverge. Nevertheless, deterioration in risk appetite could drag gold down; therefore, I anticipate a slight downward trend.

RSI 14

49.1

MACD

0.29

24h Δ

-3.81%

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