Dateline — November 13, 2025. Silver was volatile on Thursday, briefly pushing back above $54 per ounce before retreating alongside a broader risk sell‑off late in the New York session. By 2:16 p.m. ET (19:16 GMT), spot silver traded at $52.18/oz, down about 2.3% on the day, after touching its highest level since mid‑October earlier in the session. Analysts framed the reversal as a classic “buy the rumor, sell the news” move after Washington formally ended the record U.S. government shutdown. [1]
At a glance (13 Nov 2025)
- Intraday action: Silver briefly poked above $54, forming what Kitco described as a “double top,” before fading. [2]
- Late‑session picture: Prices pulled back with other assets into the close; earlier Reuters snapshot showed $52.18/oz (-2.3%) at 2:16 p.m. ET. A number of live trackers showed silver hovering in the low‑$52s into late trade. [3]
- Macro backdrop: The U.S. government reopened after a 43‑day shutdown, resetting the countdown to key economic data that could shape Federal Reserve rate decisions. [4]
What moved silver today
Early bid on rate‑cut hopes. Precious metals started Thursday firm as traders continued to price in the prospect that delayed U.S. data (now set to resume after the shutdown) would come in soft enough to keep December rate‑cut bets alive. That narrative had lifted both gold and silver into mid‑week, with Reuters noting silver earlier near $54.02 as gold tagged a three‑week high. [5]
Then the flip: broad risk sell‑off. Into the U.S. afternoon, metals turned lower with equities and other assets as the “shutdown is over” headline catalyzed profit‑taking. Reuters reported the reversal across markets and captured silver’s -2.3% slide by mid‑afternoon New York. [6]
Today’s silver price snapshot
- Spot silver (XAG/USD):$52.18/oz at 19:16 GMT, intraday high earlier above $54 before fading. [7]
- Context: The move followed several sessions in which silver flirted with late‑October highs before today’s reversal. [8]
Related market context from today
- Gold: After spiking earlier, gold flipped lower ~1% late U.S. session as profit‑taking spread; COMEX December gold futures settled modestly down on the day. [9]
- Macro catalyst: The White House signed the deal ending the longest U.S. shutdown, a development markets had been trading ahead of all week. [10]
- Tone into the close: Global “Trading Day” coverage captured the late‑session risk unwind, with stocks and multiple asset classes fading. [11]
Technical picture (intraday)
- Resistance: The market tested and rejected the $54 area, consistent with the “double‑top” characterization in Thursday’s Kitco coverage. That keeps $54–$54.5 as the first, tactical resistance zone. [12]
- Support: On today’s pullback, spot flows congregated around the low‑$52s; a clean break below there would put the psychological $50 handle back in view. (Technical zones derived from today’s observed range and recent swing levels.) [13]
Policy and demand backdrop investors are watching
- Policy tailwind:Silver was added to the U.S. “critical minerals” list in the latest triennial update last week, a signal that policy support and supply‑chain attention may remain elevated—an important medium‑term consideration for industrial users and miners. [14]
- Demand trends: The Silver Institute reported record industrial silver demand of 680.5 Moz in 2024, driven by electrification and solar PV, and it expects the global market to remain in a sizeable deficit in 2025 even as PV manufacturers continue to thrift silver loadings. These structural currents help explain why dips have been bought through 2025’s rallies. [15]
What’s next
- Data calendar reset: With federal agencies back online, attention pivots to the timing of delayed inflation and labor releases, which could make or break December rate‑cut expectations—and, by extension, the U.S. dollar path that often drives day‑to‑day moves in silver. [16]
- Levels to monitor: Near‑term $54–$54.5 on the topside (seller zone today), $52 initial support, then $50 as a psychological line that bulls defended repeatedly this quarter. [17]
Key takeaways for November 13, 2025
- Silver’s early strength above $54 faded into a late‑session drop to the low‑$52s amid a broad market pullback following the U.S. shutdown’s end. [18]
- The policy backdrop (U.S. critical‑minerals designation) and structural industrial demand remain supportive on dips, even as near‑term price swings track U.S. rate expectations and dollar swings. [19]
Reporting note: All prices and events referenced are for Thursday, November 13, 2025; intraday quotations are time‑stamped where available.
References
1. www.reuters.com, 2. www.kitco.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.reuters.com, 12. www.kitco.com, 13. www.reuters.com, 14. www.ft.com, 15. silverinstitute.org, 16. www.reuters.com, 17. www.kitco.com, 18. www.reuters.com, 19. www.ft.com
