"Silver Surges: Rising Demand and Positive Trends Spark Investment Interest"

Silver gained sharply despite a strong US treasury yield. It reached a low of $33.09 yesterday and is currently trading around $34.12. The short-term trend remains positive as long as support at $33 holds.

Chinese demand for silver has soared recently, mainly because of the growing solar energy industry. Silver is crucial for making solar panels, and as China produces most of the world's panels, its silver use has increased. The metal is also in high demand for electronics and automotive parts. Additionally, China has seen a rise in silver imports, reaching over 400 tons recently.

The gold-silver ratio is at 80.62, indicating that silver has outperformed Gold recently. A ratio above 80 might suggest that silver could be a more appealing investment compared to gold.

For trading, the major level to watch is $34.50. Silver is currently above key moving averages, with near-term support at $33.70. If it drops below this, it could target $33.25/$32.70, $32.40, or $32. On the upside, immediate resistance is at $33.70, and breaking this could lead to targets of $34.50/$34.73, $35, or $36.

It may be a good strategy to buy on dips around $33, with a stop-loss at $32 and a target price of $35.