Silver prices are starting the week on a firm but cautious footing, trading just above the psychologically important $50 per troy ounce level on Monday, 24 November 2025. Live spot quotes from major price providers show XAG/USD hovering around $50.1–$50.4 per ounce in early trading, reflecting a modest gain versus the previous session. [1]
Over the past month, silver has climbed more than 7%, and it is still up roughly two‑thirds year‑on‑year, cementing its position as one of 2025’s standout major commodities. [2] At the same time, prices remain below October’s record peak near $54.47/oz, suggesting a market that is elevated but consolidating after a powerful rally. [3]
Key takeaways for 24 November 2025
- Spot silver (XAG/USD) is trading just above $50/oz, with intraday ranges roughly $49.8–$50.4/oz so far today. [4]
- Daily move: Most feeds show a small gain of around 0.2–0.3% versus yesterday’s close, keeping silver in a tight range after last week’s volatility. [5]
- Medium‑term performance: Up about 7% over the past month and roughly 66% over the past year, reflecting strong safe‑haven and industrial demand. [6]
- Fed & macro backdrop: Markets are fixated on the December FOMC meeting, with conflicting signals on the odds of another 25 bps rate cut, keeping silver sensitive to every data release and Fed comment. [7]
- Technical backdrop: Analysts highlight support around $49–$49.25 and deeper support near $47, while resistance is clustered in the $50.1–$50.4 zone that is capping intraday rallies. [8]
Global silver price snapshot (XAG/USD) – 24 November 2025
Across major data vendors, the headline story is stability above $50/oz:
- A Vietnamese market report on Monday morning puts international spot silver at about $50.12/oz, up roughly 0.18% from the previous session. [9]
- Trading and data platforms tracking XAG/USD show prices oscillating around $50.1–$50.4/oz, with early‑session highs near $50.4 and lows closer to $49.7. [10]
- Bullion dealers such as JM Bullion and BullionVault also report live spot quotes a touch above $50/oz, broadly consistent with the interbank market. [11]
On a closing‑price basis, historical data for 24 November indicate XAG/USD finishing near $50.17/oz, a roughly 0.26% rise on the day after trading between about $49.76 and $50.42. [12]
From a macro perspective, Trading Economics notes that silver at around $50.18/oz today is: [13]
- Up 0.33% versus the previous session
- Up 7.17% over the past month
- Up 66.66% compared with a year ago
That means the metal is still not far below its October 17 nominal all‑time high around $54.47/oz, recorded by precious‑metals retailer APMEX. [14]
Local silver prices today: India, Nepal, Vietnam, Indonesia & Chennai
While global charts focus on dollar‑denominated XAG/USD, retail buyers experience silver in their local currencies. Here’s how that looks today, 24 November 2025.
India: national average and Chennai
A daily rate update from Mathrubhumi reports that the silver rate across India stands at roughly: [15]
- ₹163.90 per gram
- ₹163,900 per kilogram
The article stresses that domestic silver prices are driven by international bullion trends and the rupee–dollar exchange rate, meaning a weaker rupee can push local prices higher even if global dollar prices are flat. [16]
In Chennai, city‑specific data from DT Next show a slightly different picture: [17]
- Silver price today:₹171 per gram, or ₹171,000 per kilogram, down ₹1/g compared with Saturday.
- Over the last five days, Chennai silver has fluctuated between ₹169 and ₹176 per gram, mirroring the choppy but elevated global market. [18]
Nepal: prices ease in Kathmandu
In Nepal, the Federation of Nepal Gold and Silver Dealers’ Association reports that silver prices have declined today: [19]
- Silver is down ₹20 per tola, trading around ₹3,115 per tola in the local market.
This mild pullback follows similar softness in Nepali gold prices and reflects local currency moves and demand patterns rather than a dramatic shift in global silver benchmarks. [20]
Vietnam: mixed domestic moves, firm global price
A detailed market update from Nghe An Newspaper paints a nuanced picture for Vietnam: [21]
- In Hanoi, Phu Quy 999 silver bars and ingots are quoted around 1,919,000 VND/tael (buy) and 1,978,000 VND/tael (sell), up about 1,000 VND/tael from the previous session.
- In Ho Chi Minh City, silver is slightly softer, trading near 1,636,000 VND/tael (buy) and 1,669,000 VND/tael (sell), down a few thousand dong compared with the prior day.
Despite those mixed domestic moves, the article notes that international spot silver remains around $50.12/oz, with prices “still holding at high levels” after breaking above $40/oz in September and nearing $54/oz in mid‑October. [22]
Indonesia: silver jewellery prices
In Indonesia, Pintu’s daily market note lists the silver jewellery price at about IDR 26,000 per gram for Monday, 24 November 2025, providing a reference point for retail buyers and small investors. [23]
Taken together, these snapshots show that local silver rates today mostly mirror the elevated but range‑bound international market, adjusted for each country’s currency moves, taxes, and retail markups.
What’s driving silver prices today?
1. Fed uncertainty and interest‑rate expectations
Silver’s latest moves remain heavily tied to the U.S. Federal Reserve and the outlook for interest rates:
- A U.S. stock‑market summary published Monday highlights comments from New York Fed President John Williams, who signaled the possibility of another 25 bps rate cut in December, which would be the third cut of 2025. The CME FedWatch tool, as quoted in that report, shows odds of a cut at around 71%. [24]
- By contrast, the Vietnamese silver‑market update cites a strong U.S. jobs report and notes that FedWatch is now assigning only about 35.5% probability to a December cut, arguing that robust data have reduced expectations for near‑term easing. [25]
These differing probabilities underline how fast market expectations are shifting. For silver, the logic is straightforward:
- Lower interest rates reduce the opportunity cost of holding non‑yielding assets like silver.
- When traders expect more cuts, precious metals typically benefit; when those expectations are dialed back, silver can face selling pressure.
Today’s modest rise suggests that, net‑net, investors still see scope for easier policy ahead, but are reluctant to push prices back toward October’s highs until they get clearer signals from the Fed.
2. Risk sentiment and the U.S. dollar
The same Nasdaq/Zacks report notes that U.S. equities rallied strongly on Friday, helped by hopes of further easing. Materials and other rate‑sensitive sectors led gains. [26]
For silver, which straddles the line between safe‑haven metal and industrial commodity, that mix of improving risk appetite plus lingering macro anxiety is ideal for a sideways grind around a high base:
- A firm but not surging dollar and range‑bound Treasury yields limit both extreme upside and downside.
- Traders are content to trade the range between key support near $49 and resistance in the low $50s, rather than make big directional bets before December’s Fed meeting.
3. Strong medium‑term fundamentals
Even as short‑term moves look choppy, the bigger picture remains bullish:
- Year‑on‑year gains near 66% reflect a combination of inflation hedging, monetary easing earlier in 2025, and vigorous industrial demand, especially from sectors like solar power, electronics, and electric vehicles that rely on silver’s conductivity. [27]
- A recent Fortune daily snapshot put silver at $49.54/oz on 21 November, more than $18 higher than the same point last year, underscoring just how far prices have run even after the latest consolidation. [28]
With that backdrop, many analysts see today’s tight trading band around $50 not as a ceiling, but as a pause near the top of a powerful uptrend.
Technical view: key levels to watch
Technical analysts are laser‑focused on a few critical price zones as Monday’s session unfolds.
Short‑term support and resistance
An intraday silver forecast from FX Leaders describes silver trading just under $50 in the early European session, supported by an ascending trendline that links recent lows near $47.99 and $49.06: [29]
- Support:
- First support around $49.06, where the rising trendline and prior swing lows converge
- Deeper support in the $47–$47.25 band, highlighted by another weekly forecast as a key zone that bulls need to defend to keep the uptrend intact [30]
- Resistance:
- A dense supply zone between $50.10 and $50.40, where recent intraday rallies have repeatedly stalled [31]
As long as silver holds above roughly $49, the prevailing bias among short‑term technicians remains cautiously bullish, with dips toward support viewed as potential buy‑the‑dip opportunities for active traders (though not without significant risk).
Volatility risk
DailyForex’s silver outlook for 24 November warns that the market remains notoriously choppy, arguing that heightened attention and thin liquidity at times can turn ordinary sessions into sharp, whipsaw‑prone moves. [32]
The takeaway for anyone watching today’s price action:
- Expect sudden spikes within the $49–$51 corridor.
- Be aware that breaks of major levels (especially below $47 or above $54) could trigger large, momentum‑driven moves in either direction.
Outlook for the rest of the week
A weekly outlook for 24–28 November 2025 sketches out two broad scenarios: [33]
- Bullish continuation (if support holds):
- Silver defends $47–$49 support and grinds higher, potentially re‑testing the mid‑October highs if macro data or Fed commentary tilt dovish again.
- Increasing talk of further rate cuts in early 2026 could revive momentum buying in precious metals.
- Deeper correction (if support breaks):
- A decisive daily close below $47 would be seen as a break of the current uptrend, opening the door to a more pronounced correction back toward previous congestion zones in the low‑to‑mid‑40s.
- This scenario would likely coincide with stronger‑than‑expected U.S. data, a firmer dollar, and fading expectations for imminent monetary easing.
For now, with XAG/USD parked just above $50/oz, the market is signalling “wait and see” rather than “all‑in bullish” or “panic sell‑off.” The next big catalysts are likely to be:
- Fresh U.S. economic releases (jobs, inflation, ISM surveys)
- Any shift in Fed rhetoric ahead of the December meeting
- Moves in the U.S. dollar index (DXY) and real yields
What this means for investors and buyers today
For investors, jewellers, and industrial buyers looking at 24 November 2025 silver prices, the message is:
- Prices are high but not at peak: Silver is trading near the upper end of its multi‑year range but still below October’s record, making timing and risk management crucial. [34]
- Short‑term noise, long‑term story: Day‑to‑day fluctuations around $50/oz are being driven mostly by rate expectations and sentiment, while the long‑term story of industrial demand and constrained supply remains supportive.
- Regional opportunities: Small dips in local markets like Chennai and Nepal, where silver in rupee terms has eased slightly today, may present more attractive entry points than the headline dollar price alone. [35]
As always, anyone considering investing in silver—whether through physical bullion, jewellery, ETFs, or futures—should factor in volatility, currency risk, and personal risk tolerance. This article is for information only and does not constitute investment advice.
References
1. baonghean.vn, 2. tradingeconomics.com, 3. www.apmex.com, 4. www.investing.com, 5. baonghean.vn, 6. tradingeconomics.com, 7. www.nasdaq.com, 8. www.fxleaders.com, 9. baonghean.vn, 10. www.investing.com, 11. www.jmbullion.com, 12. twelvedata.com, 13. tradingeconomics.com, 14. www.apmex.com, 15. english.mathrubhumi.com, 16. english.mathrubhumi.com, 17. www.dtnext.in, 18. www.dtnext.in, 19. english.nepalnews.com, 20. english.nepalnews.com, 21. baonghean.vn, 22. baonghean.vn, 23. pintu.co.id, 24. www.nasdaq.com, 25. baonghean.vn, 26. www.nasdaq.com, 27. tradingeconomics.com, 28. fortune.com, 29. www.fxleaders.com, 30. forex24.pro, 31. www.fxleaders.com, 32. www.dailyforex.com, 33. forex24.pro, 34. www.apmex.com, 35. www.dtnext.in
