Has the Silver Rally Ended or Just Taking a Break?
Today (November 21st) the global silver price remained in the $50-$51 per troy ounce range, slightly weaker than the previous day but still well above its early-year level. Fundamentally, silver is being pulled in two directions: on the one hand, fading expectations for a Fed rate cut in December are likely to depress prices as dollar and bond yields remain attractive; on the other hand, silver remains supported by its position as an alternative safe haven amidst uncertainty over US economic data and the direction of Fed policy.
In the medium term, silver's overall trend remains positive: through 2025, its price has risen by more than 60% due to a combination of investment and industrial demand, particularly from the green energy and solar panels sectors. However, at current high levels, the market is more sensitive to any changes in interest rate expectations and US dollar movements, so silver has the potential to remain volatile. For now, the market tends to view this phase as a consolidation period—waiting for clearer signals from subsequent US data and the Fed's statement before resuming its trend.
The price of silver at the time of this analysis was $49,821.
- Buy if the price moves within $49,998.
- Sell if the price moves within $49,610.
Resistance 2: $50,542.
Resistance 1: $50,154.
Support 1: $49,378.
Support 2: $48,990.
Disclaimer:
This article is analytical in nature and does not constitute a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
