Commodities Analysis by Investing.com (Damian Nowiszewski) covering: XAG/USD, Silver Futures. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
But, the grey metal has other tailwinds in its favor that could spark a bull run in the coming months.could be poised to shine in the coming months, with analysts basing its bright long-term prospects on rising demand and supply constraints.
China's significance in global markets, particularly for silver, cannot be overstated. The country's automotive industry alone manufactures 60% of the world's electric vehicles and hosts 95% of global photovoltaic capacity, according to the International Energy Agency. Both sectors heavily rely on silver, underscoring China's pivotal role in global demand dynamics.of September rate cut .
Conversely, breaching the key support level at $30.60 might trigger a deeper decline, potentially testing support around $29 per ounce.
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