Silver Surges 4% as Indian Import Data Boosts Price

Silver prices have seen a significant increase of 4% in the past 24 hours, reaching around $67.03 today.

This breakout above the descending trendline, which was tested twice before, has more conviction than a first-time attempt.

India's large physical silver market is one of the key drivers behind this increase, with import data showing a concentration in specific trading partners such as China and the UK.

If the price holds above $68.32064, it could lead to further increases towards $71.16544 or even $75.02535, but any failure to sustain above $65.22049 could undo the bullish structure created by this breakout.