March 17, 2026 Spot Silver Evening Analysis

Silver opened this morning and quickly declined, with international spot silver touching a low of $79.83/oz, then rebounding and fluctuating around $81. Domestic silver T+D opened lower at 20,010 yuan/kg in the morning session, recovering to 20,335 yuan/kg in the afternoon. Overall pattern is bottom-testing rebound with narrow-range oscillation. Bulls and bears are at a stalemate with no clear direction, waiting for tonight's news and Federal Reserve interest rate decision guidance.

The market's core focus remains the Fed's March interest rate decision. Current consensus expects no rate cut in March, with elevated rates persisting longer. A stronger dollar and rising Treasury yields are directly suppressing silver prices. However, silver's industrial demand is strong, with photovoltaic and electronics inventory replenishment needs increasing, and spot inventory continuing to decline. Industrial funds are providing support, preventing deeper drops. Tonight, the key focus is the New York Fed Manufacturing Index. Strong data could push silver lower; weak data could trigger a modest rebound.

International silver price $81/oz is resistance; failure to break through suggests weakness remains. Below $79/oz is strong support; holding it provides rebound opportunities. Hourly chart shows rebound on declining volume and decline on expanding volume, suggesting near-term oscillation bias to downside. However, indicators are approaching oversold levels, with demand for a stop-loss recovery.

Domestic silver T+D: 20,300 yuan/kg is support, with 20,400-20,500 yuan/kg as overhead resistance. Swinging back and forth in range, no uni-directional movement.

Tonight, adopt a range oscillation strategy; avoid chasing rallies or panic selling. Recommended action: scale in on pullbacks to 79-80, targeting the 82-84 range area, with stop loss below 78; strictly enforce stops.

The above is personal advice only, for reference purposes only, and does not constitute investment basis. Please refer specifically to Cheng Jingsheng Shiyan layout guidance!! $XAG ‌#XAG