Silver Price Hesitates at $70 as ETF Buying Supports Recovery
The price of Silver has been under pressure due to rising Treasury yields and a strong dollar, but ETF buying is helping to offset this trend. According to Bloomberg Finance, physically backed silver ETFs have seen an increase in holdings since July 14, with investors adding around 20.4 million ounces, lifting total holdings back to around 801.2 million ounces by late August.
This shift matters because ETF buying tends to reflect longer-term positioning, unlike futures traders who react to daily volatility. The recovery in holdings suggests that investors are rebuilding exposure even while silver struggles to clear resistance. The price has hesitated, but the money has become more patient.
The next move depends on which market leads: if yields stop climbing, ETF demand is already showing there are buyers waiting underneath; if the bond market keeps tightening financial conditions, the battle around $70 may last longer than the chart alone suggests. Silver's recovery has reached a point where buyers finally have something to defend.
The rally from 54.50 changed the shape of the chart, carrying price back to the 71.70 area, where selling had repeatedly taken control before. This rejection matters because it arrived after what looks like a complete five-wave advance, making the latest pullback look more like a market taking profits than one losing its bigger direction.