Silver's setup turned constructive this week, with most published research framing the recent washout as an entry point rather than the start of deeper losses.
The bullish case rested on several threads: a heavily oversold tape after aggressive liquidation from both speculators and commercials, prices sitting above the cost curve for primary producers, and structural demand tied to silver's critical-mineral status, clean energy buildout, and AI infrastructure. Several analysts flagged the low-$60s area as attractive for rebuilding positions ahead of an anticipated second-half rally, contingent on real yields topping out and the Fed staying on hold rather than delivering a hawkish surprise.
The bearish counterpoint came earlier in the week, with one thread arguing that Gulf escalation, a firmer dollar, and higher yields would keep rallies capped and invite profit-taking. By late week, though, the balance of published views leaned toward asymmetric upside from oversold conditions.