Silver retreated on Thursday, snapping a four-day winning streak as the resolution to a US government shutdown reduced immediate safe-haven demand. The XAG/USD pair traded around $53.00, marking a 0.35% daily decline. This pullback followed a significant rally that had taken the grey metal to an intraday peak of $54.39, bringing it within striking distance of its historic high at $54.86 reached earlier in the week.
The market's risk-on mood, fueled by the political agreement in Washington, lessened the appeal of traditional safe-haven assets like precious metals. Consequently, the US dollar found firmer footing, pressuring dollar-denominated silver. Traders are now assessing whether this is a brief consolidation or the start of a deeper correction, with many watching for a potential retest of the record high. The price action reflects a recalibration of short-term market sentiment.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-13 16:53
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.