March 4, 2026 Spot Silver Morning Analysis

Yesterday, spot silver followed gold in a sharp plunge, with international silver prices dropping nearly 9% in a single day. Domestic silver T+D and Shanghai silver also plummeted, with declines far exceeding gold. The main reasons are the fading of safe-haven demand, a strengthening US dollar, and a rush of profit-taking at high levels, compounded by multiple negative factors.

The Middle East situation eased, leading to a rapid withdrawal of safe-haven funds; US economic data was relatively strong, causing the market to believe that the Federal Reserve will not cut interest rates in the short term. The dollar and US bond yields rebounded, putting pressure on dollar-denominated silver; additionally, silver had previously risen significantly, and high-level funds moved to lock in profits, triggering stop-loss orders, which amplified the downward trend.

Silver broke through key support levels directly, breaking the short-term bullish trend and showing clear weakness. Intraday, the focus is on the 81.5-80 range as strong support, which could lead to a small rebound; if support fails, the price may continue to decline. The 84-85 range is a short-term resistance zone, where rebounds are likely to encounter resistance and fall back. Overall, it’s a correction and consolidation after a sharp decline, with large fluctuations. Do not blindly chase orders.

In early trading today, silver prices slightly rebounded, temporarily stopping the decline but not turning strong. Trading should be cautious with small positions, waiting for stabilization before entering. Focus on gold trends and the strength of the US dollar, as silver generally follows gold.

It is recommended to lightly short near the 85-86 range on a rebound, with targets around the 82-80 zone.

The above is only personal advice for reference and does not constitute investment guidance. Please follow Cheng Jingsheng’s layout for specific strategies!$XAG ‌#XAG