March 10, 2026 Spot Silver Morning Analysis

Yesterday, spot silver experienced a bottoming out and rebound, with a significant rally. The international silver price dipped to around $79.6, then surged strongly, closing near $86.9, a daily increase of over 6.5%. Domestic Silver T+D closed at 21,478 RMB per kilogram, and the Shanghai Silver main contract rose to 21,738 RMB per kilogram, moving higher in tandem. Overall, the trend showed a pattern of initial decline followed by rise, with bears losing momentum and bulls launching a counterattack. The volatility was noticeably greater than gold.

There are two key points in the news: First, geopolitical tensions in the Middle East boosted safe-haven buying, leading funds to flow into precious metals markets; second, market focus is on the upcoming CPI data and Federal Reserve interest rate meeting. Expectations of rate cuts have strengthened, causing the dollar to weaken, which directly benefits silver prices. Meanwhile, global silver inventories are low, and industrial demand from sectors like photovoltaics remains strong, creating a supply-demand gap that supports the bottom of silver prices, with limited room for sharp declines.

From a technical perspective, the daily chart shows a large bullish candlestick, with prices stabilizing above the 5-day and 10-day moving averages. The MACD has formed a golden cross, indicating increasing bullish momentum. The KDJ indicator has risen from low levels to a neutral zone, confirming a short-term rebound trend. Key support levels are at $86; if broken, the price may test $85. Resistance is seen in the $88-90 range, with a breakout potentially leading to further upward movement. Overall, the market is oscillating at high levels with a slightly bullish bias. It is recommended to wait for a pullback to support levels around 85-86, then consider low buying with targets near 88-90. Avoid chasing highs blindly and set strict stop-losses.

The above is only personal advice for reference and does not constitute investment guidance. Please follow the layout of Cheng Jingsheng Stone Plate for specific strategies!!$XAU ‌#XAU