FX.co ★ Silver Establishes Around $51

Silver maintained its stability around the $51 mark as investors processed the Federal Reserve's October minutes, which indicated a divided committee. While many officials still anticipate potential rate cuts in the future, a significant number expressed uncertainty about a December move. This pulled back near-term easing expectations, bolstering the dollar and diminishing some momentum in the metals rally. Nonetheless, ongoing macroeconomic and geopolitical uncertainties maintained the demand for silver as a safe haven. The physical market fundamentals remained supportive, buoyed by technical momentum from last month's breakthrough above $52, which continued to attract buyers. Steady physical purchases from Asia further bolstered demand, even as spot liquidity showed signs of improvement. The focus now shifts to the delayed U.S. jobs report and additional Federal Reserve comments. Silver's next move will depend on whether forthcoming data suggests stronger odds for rate cuts or confirms a more cautious approach from the Fed.