[UBS, HSBC, and Macquarie collectively bearish on future silver price trends] Deep Tide TechFlow reports that on May 28, UBS America, HSBC, and Macquarie recently adopted a cautious or bearish stance on the outlook for silver. UBS America stated that the cumulative 140% increase in silver prices by 2025 has significantly suppressed downstream demand. HSBC believes that silver's 'fundamentals are overestimated,' leaving limited room for further price increases. Macquarie warned that the Federal Reserve might raise interest rates again in the first half of 2027, potentially putting pressure on silver and other precious metals. In terms of market performance, spot silver recently dropped over 3.5%, to approximately $71.98 per ounce.