Latest (Tuesday, August 11) XAG/USD spot silver has directly and violently broken through the $66 whole-dollar level. The intraday high has risen by nearly 4%. The latest quote is $65.7. In China, Shanghai silver futures have surged in tandem by nearly 2%, with the latest price at 15,884 yuan per kilogram—setting a new rebound high in nearly six months. The uptrend for silver bulls has fully entered an acceleration phase.
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### 👉 Core driver behind this violent surge
Last Friday’s U.S. nonfarm payrolls data came in far hotter than expected on the upside/and was a major surprise: only 44,000 new jobs were added, well below the market’s expectation of 85,000. This immediately and completely erased the possibility of a September rate hike by the Fed. The U.S. dollar index kept breaking down consecutively, falling directly below the 100 whole-number level, opening up massive upside space for precious metals. Combined with silver’s much higher volatility than gold, the gold-silver ratio has continued to narrow and has been “playing catch up.” Funds have rushed into the silver market—ETFs have seen multi-day, large net inflows—directly driving silver prices higher in a brutal push.
Now, global silver has been running a supply-demand deficit for 6 consecutive years. Meanwhile, new demand from the industrial side—photovoltaics plus AI computing capacity—keeps exploding, meaning the underlying supply-demand support is very solid, with no basis for a deep pullback.
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### 👉 Outlook for the next move
The silver-bull trend is now fully confirmed, and the acceleration channel for rising prices has already opened:
- The next intermediate target overhead is directly in the $68–70 range. The upside space is fully open, with no obvious strong resistance.
- The first major support below is $64.5, i.e., the previous breakout platform’s high point. As long as price holds steady above this level, the overall uptrend will not be broken.
With only one day left until Wednesday’s U.S. July CPI release, the market is generally positioning in advance for the upside tied to cooling inflation. Until the data comes out, bullish momentum will likely remain dominant.
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### 👉 Trading reference
Don’t blindly chase at high levels right now. Wait for a pullback and a retest around the $65 area to stabilize, then consider entering with a small position to bet on the next push higher. Set your stop-loss below $64. Before tonight into tomorrow night’s CPI data is released, volatility will be extremely high—make sure not to open heavy positions or use high leverage. Strictly control your position size and always attach a stop-loss.
⚠️ Note: Everything above is a compilation of publicly available market information and does not constitute any investment advice. Silver’s single-day volatility is close to 4%; in a high-volatility environment, do risk management properly.$XAG
---
### 👉 Core driver behind this violent surge
Last Friday’s U.S. nonfarm payrolls data came in far hotter than expected on the upside/and was a major surprise: only 44,000 new jobs were added, well below the market’s expectation of 85,000. This immediately and completely erased the possibility of a September rate hike by the Fed. The U.S. dollar index kept breaking down consecutively, falling directly below the 100 whole-number level, opening up massive upside space for precious metals. Combined with silver’s much higher volatility than gold, the gold-silver ratio has continued to narrow and has been “playing catch up.” Funds have rushed into the silver market—ETFs have seen multi-day, large net inflows—directly driving silver prices higher in a brutal push.
Now, global silver has been running a supply-demand deficit for 6 consecutive years. Meanwhile, new demand from the industrial side—photovoltaics plus AI computing capacity—keeps exploding, meaning the underlying supply-demand support is very solid, with no basis for a deep pullback.
---
### 👉 Outlook for the next move
The silver-bull trend is now fully confirmed, and the acceleration channel for rising prices has already opened:
- The next intermediate target overhead is directly in the $68–70 range. The upside space is fully open, with no obvious strong resistance.
- The first major support below is $64.5, i.e., the previous breakout platform’s high point. As long as price holds steady above this level, the overall uptrend will not be broken.
With only one day left until Wednesday’s U.S. July CPI release, the market is generally positioning in advance for the upside tied to cooling inflation. Until the data comes out, bullish momentum will likely remain dominant.
---
### 👉 Trading reference
Don’t blindly chase at high levels right now. Wait for a pullback and a retest around the $65 area to stabilize, then consider entering with a small position to bet on the next push higher. Set your stop-loss below $64. Before tonight into tomorrow night’s CPI data is released, volatility will be extremely high—make sure not to open heavy positions or use high leverage. Strictly control your position size and always attach a stop-loss.
⚠️ Note: Everything above is a compilation of publicly available market information and does not constitute any investment advice. Silver’s single-day volatility is close to 4%; in a high-volatility environment, do risk management properly.$XAG