Spot silver stays below key moving averages, with $46.48‑$45.55 seen as the next long‑term value zone amid lingering Fed rate‑hike expectations.

Spot silver continues its descent, trapped below major moving averages and the long‑term 50% retracement level of $60.84. The market’s focus remains on U.S. monetary policy, where expectations of another Federal Reserve rate hike are keeping bullish narratives at bay.

Technical picture

• Silver is trading around $52.53, down 2.57% on the day.
• The price is beneath the 50‑day MA ($62.12) and the 200‑day MA ($70.60).
• Key support sits at $53.26 (S1) with a pivot at $53.95 and resistance at $54.60.
• The next long‑term value zone is $46.48‑$45.55 if the downtrend holds.

Fed outlook drives sentiment

• Earlier in the year the Fed halted rate cuts and later raised rates in September, leaving the market to price a possible hike in December.
• The FedWatch tool still shows a probability of a December hike, reinforcing downside pressure on silver.
• Analysts note that when interest‑rate expectations dominate, silver’s safe‑haven appeal weakens.

What traders are watching next

• A break below the intraday low of $52.48 could push the minor trend’s 50% level toward $55.55 and open further downside.
• A rally through $54.63 would flip the minor trend bullish and could spark a short‑term bounce.
• Key data to watch include upcoming U.S. inflation and employment reports, which may reshape Fed rate‑hike probabilities.

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• ECB president lagarde to step down, knot and de cos in race
• Evening market overview as ECB leadership change looms
• Bitcoin slides below $80,000 as Fed holds rates with hawkish tone

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This article is compiled from international market news for information only. It is not investment advice.