Silver’s advance paused below the key projection near 60 psychological level, yet the pullback since has been modest, signaling no damage to the broader uptrend. The metal’s consolidation appears tied to caution ahead of the FOMC decision, with traders weighing talk of a “hawkish cut” and the possibility that the Fed may signal a longer pause after tomorrow’s move. Once the policy risk is cleared, Silver is expected to resume its uptrend.
Fundamentally, the backdrop remains supportive. ETF demand continues to surge, with total holdings rising by close to 590 metric tonnes last week. Inflows have increased in nine of the last eleven months, reflecting a sustained shift toward precious-metal exposure amid global uncertainty. November’s inflow of 15.7 million ounces—the strongest since July—further highlights steady investor engagement.
This pattern of strong ETF accumulation is expected to persist in the coming months. Safe-haven interest is being reinforced by geopolitical risks, while industrial consumption and supply-side tightness continue to bolster the structural case for higher prices.
Technically, outlook remains firmly bullish while 54.36 resistance turned support stays intact. The shallow nature of the recent retreat suggests consolidation rather than exhaustion, and price action remains well-positioned for a clean break above the 60 psychological level on next move. Decisive break of 61.8% projection of 36.93 to 54.44 from 48.60 at 59.42 could prompt upside acceleration got 100% projection at 100% projection at 66.11.
