2026-01-22 11:25:09 am | Source: Kedia Advisory
Silver looks to get support at 290000 and resistance at 340000 - Kedia Advisory
Silver
Silver looks to get support at 290000 and resistance at 340000
Observations
Silver trading range for the day is 302500-343520.
Silver slipped on profit booking as the easing of geopolitical risk reduced demand for aggressive defensive positioning.
From January 1, China implemented a new licensing regime for silver exports, restricting eligibility to producers with a minimum output of 80 t/y.
Saudi Central Bank bought silver ETFs, including the iShares Silver Trust and the Global X Silver Miners ETF, with combined holdings exceeding $40-million.
Structural supply deficits also made silver a critical asset, with the London market experiencing squeezes over the past year.
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