Silver’s $67 Recovery Masks a Brutal Month as a Historic Supply Squeeze Battles a Hawkish Fed and a Dollar Surge
13.06.2026 - 08:01:21 | boerse-global.de
Silver ended the week with a 6.22% surge, closing at $67.45, offering a rare moment of relief in what has been a punishing stretch. The white metal has shed 24.5% over the past month, a rout driven by a potent mix of geopolitical turmoil and hardening monetary policy. Yet beneath the surface, an entirely different story is unfolding: a deepening structural deficit that analysts say could provide a crucial floor beneath prices.
The short-term catalyst for Friday’s bounce was speculative, not fundamental — but the backdrop is far from simple. While military tensions between Washington and Tehran pushed investors into the safety of the US dollar, sending the greenback higher and crushing dollar-denominated commodities, another force was quietly supporting silver. A chronic shortage of physical supply, now entering its sixth consecutive year, has drained exchange inventories at an alarming rate.
At the COMEX, warehouses now hold just 315 million ounces of silver — a collapse of nearly 40% in a matter of months. The Silver Institute projects a deficit of 46.3 million ounces for 2026 alone, and the cumulative shortfall since 2021 now exceeds 760 million ounces. This isn't a temporary blip; it is the result of voracious industrial demand that is steadily reshaping the metal's market profile.
Should investors sell immediately? Or is it worth buying Silber Preis?
Nearly 57% of annual silver consumption now goes to industry, up from roughly 50% five years ago. The boom in artificial intelligence, electric vehicles, and data centers is devouring the metal, even as solar panel manufacturers use less silver per unit through efficiency gains. The net effect is a raw-material hunger that hollows out above-ground stocks and sets the stage for price spikes when macro headwinds ease.
Those headwinds are considerable. The European Central Bank raised its deposit rate by 25 basis points this week, lifting the main refinancing rate to 2.4% and the deposit facility to 2.25%. Across the Atlantic, US producer prices jumped 6.5% in May, reigniting bets that the Federal Reserve will keep tightening. Market participants now expect a more hawkish tone from the central bank’s June 16-17 meeting, and higher rates make interest-bearing assets more appealing than a metal that pays no yield.
A strong dollar compounds the pain. With the greenback rallying on safe-haven flows from the Iran crisis, silver becomes pricier for buyers using other currencies, sapping physical demand just as the market faces a supply glut — well, the opposite: a deficit. The contradiction is stark: the market is both starving for metal and being sold off on macro signals.
Technically, the picture offers a clear near-term test. The 50-day moving average sits around $76, a level that now acts as a formidable resistance. Should silver reclaim that mark, the charts would brighten considerably. Below, the extreme supply deficit is expected to soak up selling pressure and prevent a freefall. From the all-time high of nearly $122 set in January, the journey has been humbling — but the forces at play suggest this battle between physical scarcity and financial headwinds is far from decided.
Ad
Silber Preis Stock: New Analysis - 13 June
Fresh Silber Preis information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
