Silver Price Forecast: Silver/USD Surges Toward $69.00 Amid Heightened Volatility

During Friday's Asian session, spot silver extended its gains, currently trading at $69.08 per ounce, marking a third consecutive trading day of advances. The metal was trading near $68.70 at the time of writing before breaking above the $69 level, with a 24-hour gain of approximately 2.9%.

**Safe-Haven Demand Dominates Short-Term Direction**

As volatility intensifies in global currency and bond markets, investors are turning to precious metals for safety, with silver—carrying both industrial and safe-haven attributes—garnering buying support. According to Gate data, silver previously rallied above $69 per ounce, posting a 24-hour gain of 2.9%. Market reports indicate that gold and silver have shown divergent trends recently, with gold holding firmly at the $4,500 level while silver's gains have been more pronounced, approaching $69.

**Technical Focus on Pullback Support**

From a technical structure perspective, the $65-$68 range represents a dense trading zone following the recent breakout; if the trend remains healthy, buying support should emerge upon a retest of this range. Longer-term structural support lies in the $55-$60 area. Analysts note that oscillators such as RSI have remained in extreme territory for an extended period, suggesting the possibility of consolidation and profit-taking after the sharp rally in the short term, though such corrections may not necessarily signal a trend reversal.

**Inventory Dynamics Support Medium-to-Long-Term Narrative**

Over the medium to long term, market focus centers on whether deliverable inventories at the LBMA and COMEX continue to decline. Should inventories keep drawing down, tightening conditions in the physical market would intensify, allowing technical breakouts to resonate with fundamental factors. Analysts caution that chasing prices at elevated levels carries significant risk, and a more prudent strategy would be to wait for prices to retest support levels before scaling in, while prioritizing risk management.