Key highlights:
- $70 is a key resistance level for the silver price
- Silver miners hold a record $4.8 billion in net cash, strengthening their financial position
- CoinCodex sees the silver price reaching $69.74 over the next month
puts the price at $69.74 which implies that the metal could move higher in the coming weeks.
For now, silver remains between those two key levels. The FOMC could provide the next catalyst, and the record cash held by major miners gives the broader silver market a strong fundamental backdrop.
Source:: Silver Price Forecast: Silver Eyes $70 Breakout as Miners Hold Record $4.8B Cash