1.14 Midday Silver Outlook: Slightly Stronger with Pullbacks as Buying Opportunities

Key Points: Supported by expectations of rate cuts, supply and demand gaps, and geopolitical risks, silver maintains a slightly stronger oscillating pattern. Pullbacks are good opportunities to buy.

Rate Cut Expectations Strengthen: US CPI data confirms inflation is easing, and the market bets on the Federal Reserve cutting rates 3-7 times by 2026, reducing the opportunity cost of holding silver.

Safe-Haven Demand Rises: Trump restarting Greenland acquisition plans sparks US-Europe rivalry, coupled with accelerating global de-dollarization, leading to increased central bank silver purchases.

Supply and Demand Gap Widens: Silver has been in a supply deficit for five consecutive years, with a projected gap of 3,333 tons by 2026, driven by explosive growth in industrial demand such as photovoltaics and new energy.

Trading Strategy:

Long Positions: Buy in batches on pullbacks to the 85-88 range, with a stop loss at 87.0, targets at 90-91, and if it breaks above 91, chase longs towards 93.

Risk Reminder: Pay attention to today’s US PPI, retail sales data, and Federal Reserve officials’ speeches. Short-term volatility may occur, but the medium- to long-term support logic remains unchanged.