Silver Prices Eye $100 as AI Boom Fuels Industrial Demand

The silver market has been on an upward trajectory in August, but experts say it's not out of the woods yet. According to FXEmpire, a persistent supply deficit and growing industrial demand could push prices back up towards $100.

The demand for silver is being driven by new sources such as AI data centers and energy storage, which require large amounts of the metal. This trend has been ongoing for some time, with prices rebounding strongly in August after a sharp correction from their January peak.

The technical structure of the market now depends on the support zone between $45-$55, and a breakout above $72 could open up the possibility of reaching $100. However, this is not guaranteed, and the market remains uncertain.