Silver Spikes 1.4% to $33—Juanicipio Deal and Geopolitical Heat Send Traders Scrambling

Silver bulls charge as prices hit $33/oz—because nothing says ’safe haven’ like a shiny metal that swings 5% before breakfast.

Juanicipio’s mine deal juices supply optimism, while Middle East tensions do what they always do: make commodity traders overpay for downside protection. Classic.

Fun fact: This rally costs hedge funds 3x more in margin calls than actual silver changing hands. Modern markets, everybody.

Trade Optimism and Fed Comments Cap Silver’s Gains

Despite the MOVE up, silver’s gains could be capped by easing global anxiety and a stronger US dollar. Progress in US-China trade talks over the weekend has reduced some of the risk aversion. Beijing has agreed to formal trade talks and Washington said “significant progress” was made.

Also, Fed Chair Jerome Powell’s comments last week that the Fed is cautious on inflation and labor market has tempered the appeal of non-yielding assets like silver in the short term. Powell ruled out cutting rates to offset economic impact of tariffs. The Fed’s hawkish tone could slow down silver in the NEAR term.

Silver Technical Setup: Bulls Target $33.66 and $34.59

Silver is trying to break above short term resistance, supported by a bounce from the 50 day EMA at $32.50 – a level that’s also the 23.6% Fib. The MACD histogram is printing green bars again.

Trade Setup:

• Buy Entry: $32.60-$32.80 (near EMA + Fib support)

• Target 1: $33.66 (key resistance zone)

• Target 2: $34.59 (next breakout level)

• Stop Loss: Below $32.40Above $33.10 today. If above $33.66, bullish. Below $32.50, silver down to $31.63.

Bullish as long as price holds 50 day EMA. But be careful.