Silver Rises on Bullion Demand, Aftermath Secures $15M for Peru Exploration

Silver prices held steady near $62.50 per troy ounce on Monday, December 15, 2025, as investors digested a mixed week of economic data and ongoing speculation about central bank policy. The metal traded slightly higher in early Asian sessions, having bounced off the 100-hour simple moving average earlier in the day. Analysts noted that the uptrend, which has persisted for several weeks, showed signs of consolidation ahead of key resistance levels.

The XAG/USD pair saw fresh buying interest at the start of the week, reversing part of the pullback from the previous Friday's high. Technical indicators suggested that while the bullish case remained intact, traders were advised to exercise caution given an overbought daily RSI reading. Some market participants speculated that the recent move could signal a continuation of the long-term uptrend, driven in part by macroeconomic factors and increased demand for physical metals.

Meanwhile, in the corporate sphere, Aftermath Silver Ltd. announced a $15 million brokered offering to fund exploration at its Berenguela Silver-Copper-Manganese project in Peru.

The financing, which includes a significant participation commitment from billionaire investor Eric Sprott, comes amid the company's efforts to advance its mineral projects and complete a pre-feasibility study. The offering is expected to close on or about December 23, 2025, pending regulatory approvals.

Market Technicals and Investor Sentiment

Silver's recent price action has been characterized by a tight trading range around key technical levels. A bounce off the 100-hour SMA, combined with a move back above the $62.00 mark, reinforced the short-term bullish outlook. However, analysts at FXStreet warned that traders should remain cautious ahead of the $63.00 resistance level, where consolidation is likely.

For those betting on the upside, a sustained break above $63.00 could lead to a retest of the $63.80 area and eventually the previous all-time high of $64.65. On the other hand, a pullback below the $62.00 level may trigger a retest of support near $61.45, with further downside potential to the $60.80 zone if that level is breached.

Investor sentiment appears to remain cautiously optimistic, especially with physical demand for silver coins and bullion continuing to outpace supply. Monument Metals recently highlighted its record growth and strong customer trust in its online platform, reinforcing the appeal of silver as a tangible asset.

Corporate Financing and Exploration Activity

The $15 million offering by Aftermath Silver includes an option for the lead agents to increase the financing by an additional 15%, which would raise the total to $17.25 million. This flexibility is seen as a positive sign, particularly in a market where junior miners are under pressure to advance projects quickly amid rising capital costs. The company plans to use the proceeds for exploration and development at its Berenguela and Challacollo projects, as well as for general corporate purposes.

In other developments, Irving Resources Inc. announced significant exploration progress at its Omu project in Japan, where JX Advanced Metals has been conducting drilling and civil engineering studies. The project has yielded several promising intercepts of gold and silver-bearing silica, with further drilling expected to expand the resource base. The company's technical team emphasized that the shallow nature of the deposits could make them ideal for smelter flux applications.

Broader Economic and Market Factors

On the macroeconomic front, gold and silver imports into India surged in November 2025, contributing to a record trade deficit of $41.68 billion. Indian buyers imported $14.72 billion worth of gold alone in October, nearly triple the figure from the same period the previous year. The surge in demand has put upward pressure on precious metals prices, particularly silver, which is used in a variety of industrial applications.

In contrast, Fortuna Mining reported a reduction in production following the sale of its mines in Burkina Faso and Mexico. The Canadian miner is now focusing on expanding its existing operations in Côte d'Ivoire and Senegal while keeping an eye on acquisition opportunities that could help restore its 500,000-ounce annual output target. The company's strategy reflects a broader trend among gold and silver producers, who are increasingly prioritizing mid-tier assets with longer mine lives.

What This Means for Investors

The recent developments highlight the dynamic nature of the precious metals market, where both technical and fundamental factors play a role. For investors, the key takeaway is the importance of monitoring both macroeconomic trends and company-specific news. Silver's price behavior over the next few weeks will likely hinge on its ability to break through key resistance levels and confirm a stronger bullish case.

In the near term, the focus will be on whether Aftermath Silver can successfully complete its financing and begin advancing its projects, particularly in Peru. A successful outcome could boost investor confidence in the sector and attract more capital to junior exploration companies. Meanwhile, broader market participants will keep an eye on global demand trends, particularly in emerging markets like India, where silver is increasingly used for both investment and industrial purposes.