Key highlights:
- Peru supplies one-sixth of global silver output, keeping supply risks in focus for precious-metals traders
- The silver price has slipped below the key $61.50 level, and analysts are watching whether it can reclaim that level
- CoinCodex’s 1-month prediction points to $64.68, but the chart remains trapped between $56 support and $61.50 resistance
Silver is one of the most interesting markets to monitor now. Geopolitical tensions were the main headlines for July, while another story may prove to have some long-term implications. As reported by Kitco News, almost one-sixth of the total global mined silver comes from Peru.
Currently, the , the price is projected to trade around $64.68, indicating moderate upside potential from current levels if buyers can hold the $56-$58 support zone and reclaim the key $61.50 resistance area in the coming weeks.
Source:: Silver Price Forecast: Peru Supply Risks and a Key Level Could Shape Silver’s Next Move