Silver prices are tarnished but not forgotten. Why HSBC thinks gains in white metal may be limited? - The Economic Times

AI desk brief

HSBC says silver has stabilised after tumbling to nearly $54/oz and sees further upside as likely limited, with gold remaining the key driver for the white metal. The bank is mildly positive on silver but says industrial and jewellery demand should weaken further, while institutional buying from China and India and a rebuild in silver ETF holdings should provide support.

Offsetting that, HSBC expects a firm US dollar and elevated yields to cap gains. It adds that if the expected rate hikes fail to materialise, silver could move higher, while fiscal profligacy and geopolitical risks remain supportive over time.