Silver Plummets Over 3% as Selling Pressure Intensifies

The price of silver (XAG/USD) faced renewed downward pressure during Tuesday’s trading session (November 3). Silver prices fell by 3.39% to US$48.77 per troy ounce, down from US$50.48 in the previous session.

This decline pushed silver back below the US$50-per-ounce mark. The weakness indicates that selling pressure remains robust, following a previous sharp drop in the precious metal’s value.

On a year-to-date basis, silver’s performance remains under strain; the price has fallen by approximately 31.39% since the beginning of 2026, reflecting a significant correction from its levels at the start of the year.

The weakening of silver occurs amidst persistent pressure weighing on the precious metals market. Investors are closely monitoring the direction of U.S. monetary policy and global market developments, both of which could influence demand for commodity-based assets.

Silver’s decline is particularly noteworthy given its dual nature as both an investment asset and an industrial commodity. Shifts in sentiment regarding the global economy can impact demand for silver from both perspectives.

With a 3.39% single-day drop and a 31.39% correction year-to-date, silver continues to face significant pressure. Market participants should keep a close watch on the movement of the U.S. dollar, Federal Reserve interest rate expectations, and global economic developments to gauge the future direction of silver prices. (arl)

Source: Newsmaker.id