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Source: Newsmaker.id
Global silver prices rebounded during Asian trading on Monday (November 9, 2026), following two consecutive sessions of decline. Silver (XAG/USD) moved toward the US$52.00 per troy ounce level, bolstered by a drop in global oil prices, which helped ease concerns regarding global inflationary pressures. This development has fueled hopes that the U.S. central bank (the Federal Reserve) may not need to maintain a tight monetary policy for longer than previously anticipated. A weakening U.S. dollar also provided support for the recovery in silver prices.
The decline in oil prices followed remarks by U.S. President Donald Trump, who stated that further military action against Iran is highly unlikely, provided that negotiations regarding its nuclear program show progress and the Strait of Hormuz remains open. Trump also acknowledged that the conflict in the Middle East—which drove up energy costs—had an impact on the outcome of the U.S. midterm elections. These statements have raised expectations for a diplomatic resolution to the conflict. Nevertheless, Iran has warned that it would retaliate against U.S. and Israeli assets if it were to be targeted by further attacks. Consequently, the energy market remains characterized by uncertainty, despite the recent drop in oil prices.
On the other hand, the rise in silver prices continues to face pressure from expectations of an interest rate hike by the Federal Reserve in December. According to market probabilities reflected in the CME FedWatch Tool—as cited in the report—the likelihood of a 25-basis-point rate hike has risen to over 78%. Such expectations may dampen the appeal of silver, as the precious metal does not generate interest income. When interest rates rise, investors tend to favor financial instruments that offer higher yields, such as U.S. government bonds. This dynamic could potentially boost demand for the U.S. dollar while simultaneously capping gains in the price of silver.
The U.S. dollar has also found support from employment data, which indicates that the economy remains relatively robust. The Non-Farm Payrolls (NFP) data for October showed an addition of 165,000 jobs, significantly exceeding the market forecast of 65,000 and an increase from the 60,000 jobs added in September. The unemployment rate also fell to 4.1%, coming in lower than the 4.2% expectation. These results reinforce the view that the U.S. labor market remains resilient, providing the Federal Reserve with room to maintain a high-interest-rate policy. Investors are now looking ahead to the Consumer Price Index (CPI) report on Tuesday (Nov 10) and the Producer Price Index (PPI) report on Friday (Nov 13) for further clues regarding the future direction of monetary policy. (Asd)
Source: Newsmaker.id