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Silver Nitrate Market: A Hidden Opportunity Amid Economic Uncertainty
While the global economy faces uncertainty, the silver nitrate market is poised for growth. With a projected CAGR of 5.2% from 2022 to 2032, the market value is set to soar from $5.3 billion to $8.8 billion by 2032, driven by the demand for silicone elastomers in industries such as automotive and construction.
Silver nitrate, known for its oxidizing properties and versatility, plays a crucial role in various sectors, including medical and industrial applications. Despite regulatory challenges and fluctuating silver prices, the industry’s expansion remains promising.
Short-Term Forecast for Silver (XAG/USD)
The recent interest rate cuts by the U.S. Federal Reserve and China’s economic stimulus plan have boosted demand for silver, creating a strong foundation for its bullish momentum. Silver currently holds above $31.89, with resistance at $32.24. However, a break below $31.90 could signal a deeper pullback towards $31.68.
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