Silver is trading nearly 1% higher today, climbing back above 50 USD per ounce and supported by gains in gold prices. Notably, the metal has been officially added to the U.S. Geological Survey’s 2025 List of Critical Minerals — a move that could, in theory, strengthen industrial demand and reshape the global supply chain.
- The new classification may lead to adjustments in U.S. trade policy or the introduction of new tariffs, prompting bullion banks to remain cautious about releasing their silver reserves amid growing uncertainty.
- Last month, silver prices surged to a record high of 54.5 USD per ounce, as shrinking supply met rising industrial demand and growing interest from retail investors amid a tight spot market.
- Daniel Ghali, senior commodity strategist at TD Securities, noted that although supply constraints have recently eased, the market remains vulnerable to short-term corrections.
- According to data from the London Bullion Market Association, silver inventories in London vaults rose to 198 million ounces, up by 111 million just two weeks after the latest sharp price rally. Much of this new supply likely came from recycling and private storage, rather than from exchanges or ETFs.
- A potential new market squeeze could emerge if inventories in Shanghai and New York continue to decline or if new export restrictions and tariffs disrupt global metal trade. The inclusion of silver on the U.S. critical minerals list marks a long term turning point.
SILVER (D1 timeframe)
Silver is recovering from recent losses and has held above its 50-day exponential moving average (EMA50) (orange line) on the daily chart. This level, around 47.5 USD, now acts as key support. The most important resistance remains near 52.5 USD per ounce, where the last major downward impulse began.
Source: xStation5
Daily Summary: Wall Street ends the week with a calm gain 🗽 Cryptocurrencies slide
NATGAS surges 5% reaching 3-year high 🔎
Bitcoin loses 3% 📉Technical bearish flag pattern?
3 markets to watch next week (05.12.2025)
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
