Silver Surges Past $62 as Weaker Dollar Bets and Structural Deficit Converge
Published on 07/05/2026 at 19:12 | Redaktion boerse-global.de
A persistent supply gap in the physical silver market is finally meeting a fresh macroeconomic tailwind, pushing the white metal decisively above the $60 threshold. Spot silver closed Friday at $62.72 per ounce, chalking up a weekly advance of roughly 5%. The rally marks a sharp reversal from the heavy selling pressure that dominated earlier in the year.
The trigger was a disappointing US jobs report. The economy added only 57,000 positions in June, far below the consensus forecast of more than 100,000. That miss has forced investors to reassess the Federal Reserve’s trajectory. Rate-cut expectations are now firmly back on the table, weakening the dollar and reducing the opportunity cost of holding non-yielding assets such as silver. Lower bond yields are feeding directly into the metal’s appeal.
Yet the macro catalyst is only half the story. The fundamental backdrop remains exceptionally tight. Analysts project a supply deficit of 46.3 million ounces this year, marking the sixth consecutive year in which consumption outstrips fresh production. Stockpiles are being drawn down to fill the gap, and there is little sign of relief on the horizon.
Should investors sell immediately? Or is it worth buying Silber Preis?
Industrial demand is the primary engine of this squeeze. Silver’s unmatched electrical conductivity makes it indispensable for high-tech manufacturing. Solar panels, electric vehicle components, power grids, and the sprawling infrastructure for artificial intelligence are all voracious consumers of the metal. Even though the solar industry is working to reduce silver usage per module, total volume continues to climb.
The price action, however, still has a long way to go to erase the year’s losses. Since January 1, silver has shed roughly 13.2%. The 52-week high near $122 remains a distant memory. For now, traders are watching the next resistance level at $70, with a successful breakout potentially opening the path toward $80. On the downside, support sits at $54.50; losing that level would call the nascent recovery into question.
The 50-day moving average at $71.67 looms as a significant technical barrier. A sustained move above that area would require fresh inflation data to reinforce the dovish narrative. Bank forecasts reflect cautious optimism: JP Morgan expects an average price of $81 this year, while Commerzbank sees the potential for a climb to $90 if interest rates decline further.
For the moment, silver has breathed new life into a market that was on the defensive. The combination of a structural deficit and a shifting monetary policy landscape is delivering the kind of dual support the metal has long been waiting for.
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