Metals Focus: Uncertainty over tariffs combined with stable supply and demand fundamentals maintain a bullish outlook on silver prices.

According to the Zhutong financial APP, the latest precious metals weekly report released by Metals Focus pointed out that in the second half of October, silver prices experienced severe fluctuations. Within just two months, silver prices had cumulatively risen by nearly 40%, reaching a peak of $54.48 per ounce on October 17th. Subsequently, silver experienced its largest single-day decline in recent years, dropping by about 16% (approximately $9), to reach a recent low of $45.56 per ounce on October 28th. Despite significant short-term volatility, silver has still risen by approximately 67% since the beginning of the year, marking its strongest annual performance since 2010 (which saw an increase of 82%). Although the specific triggers for this round of overall precious metals pullback are not yet clear, from a technical perspective, this correction has been brewing for some time. Given the market's concerns about the sustainability of the current upward trend, a certain degree of profit-taking on a technical level is to be expected. Metals Focus stated that ongoing tariff uncertainties, combined with the stable supply and demand fundamentals of silver, are expected to continue to support silver prices.