Spot Silver Midday Analysis as of March 12, 2026

On March 11, spot silver initially surged then pulled back, with international silver oscillating around $88. Domestic spot prices saw a slight correction, futures remained relatively strong while spot was weaker, resulting in a overall high-level consolidation. In the late session, influenced by data expectations, prices weakened, with limited volatility throughout the day, and neither bulls nor bears managed to establish a clear trend.

Last night, the US February CPI data met expectations, leading the market to believe that the Federal Reserve's rate cut will be delayed. The dollar and US Treasury yields rebounded, which is bearish for silver. Additionally, after recent gains, funds took profits, risk sentiment cooled, and silver prices faced downward pressure. Today, focus will be on the dollar trend and market sentiment, with no major data releases expected, mainly digesting fluctuations.

International silver broke below the support at $86.5, indicating short-term weakness. The next support levels are at $85-$83.5, with a break below potentially targeting $82. Resistance is in the $88-$89 range; if the rebound cannot break through, downward pressure will persist. Domestic silver support is around 21,500 RMB/kg, with resistance at 22,000 RMB/kg. Daily indicators are turning downward, suggesting short-term bearishness. Do not blindly bottom-fish without confirming key levels.

Trading Strategy: Light positions for short-term trend-following, consider shorting at rebound resistance levels, and look for long positions at stable support levels. Strict stop-losses are essential. Avoid chasing rallies or panic selling. If the rebound reaches the 88-90 range and faces resistance, consider shorting with targets near 86-83!

This is only personal advice for reference; it does not constitute investment advice. Please follow Cheng Jingsheng's layout for specific strategies!!$XAG ‌#XAG