Silver Price News: Silver Eases on Friday but Closes Week in the Black

Silver prices moved slightly lower on Friday, but managed to finish the week in positive territory on a week-on-week basis.

Prices moved in a range of $30.87 to $31.55 an ounce on Friday, compared with around $31.40 an ounce in late trades on Thursday.

Overall, silver moved in a relatively narrow range through the week, with prices just about clinging on to the $31.00 an ounce level for most of Friday’s session.

Interest rate hopes keep markets buoyant

A firming up of expectations of a US interest rate cut in December have provided a supportive element for silver, while gold has been largely in a holding pattern last week, providing little convincing momentum in either direction.

Precious metals looking more subdued after October highs

Both gold and silver posted long-term highs in October, but the market dynamic has changed since then, with gold in November posting its first monthly loss since January 2024. Both metals have been more subdued since then as the markets weighed the prospects of potential delays to interest rate cuts in 2025 amid a potentially more inflationary environment.

Upcoming events

The beginning of this week is looking light on macroeconomic data releases, and the markets will be looking ahead to Wednesday’s monthly US inflation readings for the latest signals on the monetary policy outlook. In addition, the Bank of Canada is set to make an interest rate decision on Wednesday, with the markets broadly anticipating a 50 basis-point cut to 3.25%.