Weekly Special Report: SILVER

GEOPOLITICS: MIDDLE EAST WAR

• EVENT (WEDNESDAY, APRIL 22): END OF US–IRAN CEASEFIRE. The ceasefire between the United States and Iran expires, increasing the risk of renewed hostilities and potential escalation of the war if no diplomatic agreement is reached, with heightened uncertainty over regional stability and key energy and shipping routes.
• BREAKING (MONDAY, APRIL 13 AT 15:00 GMT+1): U.S. NAVY BEGAN THE HORMUZ STRAIT BLOCKADE. US President Trump said: “Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any Ships trying to enter, or leave, the Strait of Hormuz. The Blockade will begin shortly”.
• BREAKING (APRIL 11): U.S. - Iran peace talks in Islamabad ended with no deal after over 21 hours of negotiations. Talks collapsed over Iran’s nuclear program and broader demands, including control of the Strait of Hormuz, war reparations, regional ceasefires, and access to frozen assets.

Source: Reuters, Bloomberg, CNBC

EVENTS:

• THURSDAY, APRIL 16 AT 13:30 GMT+1: U.S. WEEKLY INITIAL JOBLESS CLAIMS. The weekly U.S. report that shows how many people filed for jobless claims for the first time will be released this Thursday (April 16) at 13:30 GMT+1. If the data shows an increase in first-time jobless claims, the U.S. dollar could come under negative pressure, potentially supporting silver prices.
• THURSDAY, APRIL 16 AT 13:30 GMT+1: U.S. PHILADELPHIA FED MANUFACTURING INDEX (APRIL). This survey reflects business conditions in the manufacturing sector, including new orders, employment, and overall activity. A weaker than expected reading would point to slowing economic activity, increasing expectations of Fed rate cuts, typically supporting silver prices.

SILVER MARKET: HIGHER DEMAND AMID SUPPLY SHORTAGES LEADS TO A WIDENING DEFICIT

• MARKET DEFICIT: SILVER MARKET REMAINS IN DEFICIT SINCE AT LEAST 2016. The silver market faced a deficit of around 300 million ounces in 2025, according to recent reports from The Silver Institute. While the market has been in deficit since 2016, the gap has grown significantly since 2022.
• SUPPLY CONSTRAINTS: SILVER PRODUCTION REMAINS AROUND 800 MILLION OUNCES PER YEAR. Annual production has held near 800 million ounces, remaining largely unchanged since 2016. There is no clear indication that output will be meaningfully higher in 2026 or the following years.
• DEMAND REMAINS STRONG: SOLAR PANELS, ELECTRIC VEHICLES, AND A.I. INFRASTRUCTURE. Silver demand could increase during 2026 and beyond due to rising demand from solar production, electric vehicles, and rapidly expanding A.I. data center infrastructure.

TECHNICAL ANALYSIS AND PRICE ACTION

• SUPPORT AREA: $70 - $65. After the most recent downward price correction, silver prices continued to find support in the $70 - $65 range.
• SILVER PRICE HIT A NEW ALL-TIME HIGH ON JANUARY 29, 2026 ($121.49). Silver currently trades around $78, and if it fully recovers to its previous all-time high, it could see an upside of around 55%. However, the price could also decline.
• FORECAST: Citigroup forecasts $150; Bank of America $135.

GRAPH (Daily): October 2025 – April 2026

Please note that past performance does not guarantee future results

SILVER, April 15, 2026
Current Price:  78

Example of calculation based on weekly market trend for 1.00 Lot¹

1.  The above calculations are made based on 1.00 lot which is equivalent of 10,000 units
2.  Calculations for exchange rate used as of 10:00 (GMT+1) 15/04/2026

You can use risk management tools such as Stop-Loss and Take-Profit.