Analysts highlight that short-term price targets point to a possible test of $30.00 if macro sentiment stays supportive. The long-term quarterly continuous silver chart illustrates the current technical targets. Connect with a member of our expert Metals team for more information about our products. Trading silver futures is currently shaped by cross-commodity correlations, especially crude oil price movements. A recent oil rally pushed inflation expectations higher, benefitting silver as a hedge. July silver futures climbed to $29.64, with hedge fund long positions hitting their highest since February.