The International Monetary Fund (IMF) said on Tuesday that the global economy is expected to shrink by 3.0% in 2020 due to the closure of economic activities due to the coronavirus epidemic, which will be the worst economic recession since the Great Depression. On Monday, the US Responsible Federal Budget Committee (CRFB) said that the COVID-19 epidemic has led to a sharp decline in the US economy and large-scale government aid spending, which will nearly quadruple the original estimate and reach a record $3.8 trillion in fiscal year 2020, equivalent to 18.7% of the US gross domestic product.

On the daily chart, the price of silver maintained a recent rebound trend, the MACD red kinetic energy column narrowed slightly, and the KDJ stochastic indicator rose moderately, indicating that the upward kinetic energy of silver was unstable, and the price of silver may fall from a high level next. On the 4-hour chart, after the silver price surged, the pressure fell slightly, the MACD red kinetic energy column remained unchanged, and the KDJ stochastic indicator turned down, indicating that silver may continue to decline moderately in the short term.