Chart of the day - SILVER( 11.11.2025)

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