- April 6, 2026
- Posted by: EWGFX
- Category: news
Silver is trading around $72-$73 an ounce on April 6 2026 and showing some pretty mild downside pressure – we’re talking 0.7%…
Silver is trading around $72-$73 an ounce, experiencing mild downside pressure of 0.7% to 1.3% recently.
Despite recovering 18% from 2026 lows, silver remains far below its January peak of $120-$121.
Geopolitical tensions and a stronger dollar are creating conflicting pressures on silver prices, while ongoing supply deficits and industrial demand offer long-term support.
Technical analysis shows silver testing a key trendline, with immediate resistance at $73 and potential for a rebound if support holds.
Silver is trading around $72-$73 an ounce on April 6 2026 and showing some pretty mild downside pressure – we’re talking 0.7% to 1.3% over recent sessions. The dual-purpose metal (its both a store of value and a base for making other things) has managed to recover about 18% from 2026 lows but still lags far behind that January peak that saw silver hit $120-$121. Right now, its just sort of stuck , with spot prices bouncing around in a pretty tight range between $72.25 and $73.02.
This all looks pretty familiar compared to gold but things get a lot more volatile in silver because of its close connections to safe-haven values and industrial uses – especially in things like solar panels, electric cars and electronics
Why isn’t silver doing much better right now?
Well, the Iran conflict and Strait of Hormuz issues are fuelling a rise in prices, but a stronger dollar – and we’re talking a dollar that got a boost from solid jobs numbers and fewer expected Fed rate cuts – is creating a bit of a balancing act and making silver more expensive for people who don’t use the dollar.
Geopolitical Risks and a Stronger Dollar Create Conflicting Pressures
We’re seeing ongoing US-Iran tensions and worries about a disruption to the Strait of Hormuz keep sparking price movements in commodity markets. Oil is currently trading above $110 a barrel which has helped to cement the dollar as a go-to safe haven – which in turn is adding more selling pressure on silver, since its denominated in dollars.
President Trump’s latest comments on securing the strait have helped to create a risk-off atmosphere in the early part of the trading day in Asia on April 6 and on top of that we’ve had news of a job market in the US that’s doing pretty well and that’s led to a re-think of Federal Reserve policy – which in turn has helped to fuel dollar strength. Silver has been propped up at supports near $69-$70, and then levelled out in this current zone, with the relative thinness of the market at the moment just making some of the swings feel a little more amplified than they would be normally. But so far, we’ve seen some decent buying coming in to try and catch any falls.
The Gold-Silver Ratio is Warning of Silver’s Relative Underperformance
The ratio of gold to silver has been widening out, trading around 62:1 to 64:1 – and that’s drawing some attention from traders who are trying to spot potential trades that could mean-revert at some point.
Gold’s purely benefiting from safe-haven flows, but silver is getting hit from a couple of different angles – there’s the potential for a bit of a slowdown in industrial demand linked to economic uncertainty, and that of course is something to worry about. But longer-term, there’s still a lot of supporting factors: analysts are saying we’re looking at a sixth consecutive year of silver supply deficits in 2026, and demand from the likes of solar panels, electric vehicles and electronics is still good.
J.P. Morgan is maintaining a 2026 price target of $81 an ounce – and that says a lot about the confidence they have in these fundamentals once we get past the short-term volatility.