Silver prices in West asia are influenced by global factors that impact the overall Silver market. These include factors such as global economic conditions, geopolitical events, monetary policies, and investor sentiment. Monitoring global trends and developments in the silver market is essential for understanding the broader context that can affect silver prices in West Asia. Industrial demand plays a significant role in determining the price of silver. West Asia's growing industrial sector, including construction, electronics, and automotive industries, contributes to the demand for silver in the region. Factors such as economic growth, industrial production, and technological advancements can influence the demand for silver and subsequently impact its price.

The availability of silver supply globally and within West Asia affects its price. Factors such as mining production, recycling rates, and geopolitical factors impacting silver-producing regions can influence supply dynamics. Changes in supply levels can have implications for the price of silver in the region. Exchange rates between local currencies in West Asia and major global currencies can affect the price of silver. Fluctuations in currency exchange rates can impact the purchasing power of participants in the silver market, potentially influencing demand and price levels.

The silver market has attracted a lot of attention in 2021, and according to mainstream retail investors, it is a precious Metal that will be monitored in the new year by the investors who have been waiting a long time for silver to finally reach its credit and surpass gold. For the consecutive fifth year, retail investors consider gray metal as the premier asset in the precious Metals sector.

This year, 1,015 people took part in the Kitco News Outlook 2021 Online Survey. A total of 568 voters on Main Street, or 56% of experts expected silver to outperform other metals next year. Silver is on the rise as the precious metal has seen a historic rise since falling to $ 12 an ounce due to financial turmoil caused by the Coronavirus. 

The price of silver has risen 115% from its lowest level. In comparison, the price of Gold per ounce is 25% higher than the lowest level in March. Many analysts also see the performance of silver as better than the performance of gold in 2021. Low interest rates, a weakening US dollar, and rising inflationary pressures are driving gold and silver, both of which are seen as monetary metals. However, the improvement in economic activity next year will add another pillar to support silver.

Technical analysis involves studying historical price patterns, trends, and market indicators to forecast future price movements. Chart patterns, support and resistance levels, and other technical indicators can provide insights into potential price trends. Traders and analysts often use technical analysis in combination with fundamental analysis to make price forecasts. Market sentiment, driven by factors such as investor confidence, market psychology, and speculative activities, can impact the price of silver. News events, economic data releases, and market rumors can influence sentiment and trigger buying or selling pressure, affecting silver prices.

Silver is considered a store of value and an investment asset. Fluctuations in investment demand can significantly impact the price of silver. Factors such as inflation, interest rates, currency movements, and investor sentiment towards precious metals can influence the demand for silver as an investment, leading to price fluctuations. West Asia has a strong cultural affinity for silver Jewelry and silverware. Consumer demand, influenced by factors such as disposable income, fashion trends, and cultural preferences, can impact the price of silver in the region. Monitoring consumer behavior and market trends in the jewelry and luxury sectors provides insights into the potential direction of silver prices.