Silver Outlook: Can the bulls break through the resistance zone of $50.02-$51.07?
2025-11-11 02:11:21
On Monday (November 10), spot silver surged during the US trading session, with bulls breaking through the high of $49.38 reached on October 31, pushing the short-term trend upward and reaching the $50.02-$51.07 retracement range. Currently, the market is hovering near the bottom of this range and has not yet made a significant push towards the upper limit. Silver prices are still about $1 below the major resistance level.
Traders are closely watching whether the momentum can be sustained. A break above $51.07 could trigger a rally towards $54.49; if the bulls retreat, support levels will be seen at $46.88 and $45.55. The 50-day moving average at $46.52 is currently acting as trend support and is a key level that the bulls need to defend.
Weak data and expectations of Federal Reserve policy support precious metals
The market environment that propelled gold to a two-week high also continued to favor silver. Last Friday, a University of Michigan survey showed consumer confidence falling to a three-and-a-half-year low, raising concerns about slowing demand. Meanwhile, the anticipated end to the 40-day government shutdown fueled market hopes for a possible easing of the political gridlock in Washington.
According to the CME Group's FedWatch Tool, traders currently expect a 65% probability of a rate cut at the Federal Reserve's December 10 meeting. This expectation pushed the dollar index down to 99.643, attracting new buying into the precious metals market. Gold's safe-haven rally provided additional support for silver, but bulls still need to break through $51.07 to confirm the next upward move.
Long-term outlook on the changing status of key minerals
Last week, the U.S. government added silver to its provisional list of critical minerals for 2025, a significant step forward. Silver now stands alongside minerals such as lithium, copper, and rare earth elements, recognized as a material essential to national security and economic stability. This move also opens the door to strategic reserves, subsidies, and expedited approvals for mining companies.
Large sums of money have already begun to react. The Saudi Arabian central bank has reportedly taken a stake in a silver exchange-traded fund (ETF). Private investors such as David Bateman hold more than 1% of the global annual supply, and these are all long-term holdings, not short-term transactions.
Outlook: Bulls need a convergence of fundamentals and price action above $51.07.
(Spot silver daily chart source: EasyTrade)
As long as silver remains above $50.02, the short-term trend remains bullish, with key support at $46.52, near the 50-day moving average. However, this rally relies not only on strong technicals but also on confirmation from fundamentals.
If the closing price breaks through $51.07, especially given the continued strengthening of expectations for a Fed rate cut and the continued weakening of the dollar, it could trigger new momentum buying, opening up space towards $54.49.
Failure to break through the resistance level could trigger profit-taking, but bulls may re-enter the market on dips in the $47-$45.50 range. Silver is receiving strong support as interest rate expectations shift and long-term demand gradually accumulates, but it still needs to prove its strength through actual performance.
At 02:08 Beijing time, spot silver was trading at $50.247 per ounce, up 3.99%.
Traders are closely watching whether the momentum can be sustained. A break above $51.07 could trigger a rally towards $54.49; if the bulls retreat, support levels will be seen at $46.88 and $45.55. The 50-day moving average at $46.52 is currently acting as trend support and is a key level that the bulls need to defend.
Weak data and expectations of Federal Reserve policy support precious metals
The market environment that propelled gold to a two-week high also continued to favor silver. Last Friday, a University of Michigan survey showed consumer confidence falling to a three-and-a-half-year low, raising concerns about slowing demand. Meanwhile, the anticipated end to the 40-day government shutdown fueled market hopes for a possible easing of the political gridlock in Washington.
According to the CME Group's FedWatch Tool, traders currently expect a 65% probability of a rate cut at the Federal Reserve's December 10 meeting. This expectation pushed the dollar index down to 99.643, attracting new buying into the precious metals market. Gold's safe-haven rally provided additional support for silver, but bulls still need to break through $51.07 to confirm the next upward move.
Long-term outlook on the changing status of key minerals
Last week, the U.S. government added silver to its provisional list of critical minerals for 2025, a significant step forward. Silver now stands alongside minerals such as lithium, copper, and rare earth elements, recognized as a material essential to national security and economic stability. This move also opens the door to strategic reserves, subsidies, and expedited approvals for mining companies.
Large sums of money have already begun to react. The Saudi Arabian central bank has reportedly taken a stake in a silver exchange-traded fund (ETF). Private investors such as David Bateman hold more than 1% of the global annual supply, and these are all long-term holdings, not short-term transactions.
Outlook: Bulls need a convergence of fundamentals and price action above $51.07.
(Spot silver daily chart source: EasyTrade)
As long as silver remains above $50.02, the short-term trend remains bullish, with key support at $46.52, near the 50-day moving average. However, this rally relies not only on strong technicals but also on confirmation from fundamentals.
If the closing price breaks through $51.07, especially given the continued strengthening of expectations for a Fed rate cut and the continued weakening of the dollar, it could trigger new momentum buying, opening up space towards $54.49.
Failure to break through the resistance level could trigger profit-taking, but bulls may re-enter the market on dips in the $47-$45.50 range. Silver is receiving strong support as interest rate expectations shift and long-term demand gradually accumulates, but it still needs to prove its strength through actual performance.
At 02:08 Beijing time, spot silver was trading at $50.247 per ounce, up 3.99%.
- Risk Warning and Disclaimer
- The market involves risk, and trading may not be suitable for all investors. This article is for reference only and does not constitute personal investment advice, nor does it take into account certain users’ specific investment objectives, financial situation, or other needs. Any investment decisions made based on this information are at your own risk.
