Unlike gold, silver recovers

Silver gained support from data showing the New York manufacturing index rose in November to its highest level in a year, reinforcing demand for industrial metals.

Prices climbed during Monday’s session, approaching $51.00 per ounce, also buoyed by lingering uncertainty following the end of the U.S. government shutdown. The rally reflects renewed demand for silver as a safe‑haven asset, with markets awaiting delayed economic reports that may reveal signs of a slowdown in the U.S. economy.

This week, investors are bracing for a wave of postponed economic releases due to the shutdown, heightening uncertainty. Among the most anticipated is Thursday’s non‑farm payrolls report, which will provide key signals on the strength of the U.S. labor market and broader growth trends.

Markets are also watching remarks from several Federal Reserve officials — including John Williams, Philip Jefferson, Neel Kashkari, and Christopher Waller — that could shape expectations for monetary policy. While silver has benefited from economic concerns, hawkish commentary from the Fed may limit gains, particularly as attention remains focused on the path of interest rates.

In sum, silver’s rise toward $51 per ounce has been driven by a combination of safe‑haven demand following the U.S. government shutdown, anticipation of delayed economic data, and upcoming Fed commentary that may determine the metal’s next direction.