Macquarie says profit‑taking last month weighed on silver and, with Fed rate‑hike expectations rising, macro factors have resumed primary control of price moves. It expects silver to trade range‑bound through the remainder of the year, around $70/oz in Q4, then gradually fall to $65/oz by end‑2027. Higher inflation and rising bond yields would increase downside pressure and cap upside. Silver’s stronger recent performance versus gold—driven by tighter supply, low inventories and robust demand th

Macquarie says profit‑taking last month weighed on silver and, with Fed rate‑hike expectations rising, macro factors have resumed primary control of price moves. It expects silver to trade range‑bound through the remainder of the year, around $70/oz in Q4, then gradually fall to $65/oz by end‑2027. Higher inflation and rising bond yields would increase downside pressure and cap upside. Silver’s stronger recent performance versus gold—driven by tighter supply, low inventories and robust demand that has encouraged bullish positioning—makes it more vulnerable to rapid pullbacks, historically observed in past corrections.