Silver (XAG/USD) is trading lower around $50.80 on Thursday, slipping 0.70% after failing to hold above the $52.00 area. The metal is giving back part of its weekly gains as renewed US Dollar strength limits upside momentum across precious metals.

The rebound in the Greenback follows fading expectations of a Federal Reserve rate cut in December. Newly released FOMC Minutes revealed deeper internal resistance to additional easing, reducing demand for non-yielding assets like Silver.

Market sentiment is also muted ahead of the delayed Nonfarm Payrolls (NFP) print for September, due later today. With the October jobs report postponed until November because of the government shutdown, macroeconomic visibility remains limited. Investors are now watching jobless claims, wage data, and labor participation for clues on the Fed’s next move.

Meanwhile, improving risk appetite—boosted by Nvidia’s strong earnings—has pushed some flows out of safe-haven assets, further weighing on Silver.

Silver Technical Outlook: XAG/USD Squeezed Between Key Trend Lines

On the 4-hour chart, Silver trades near $50.80, down $0.47 from the session open. Price remains above the 100-period SMA at $49.85, signaling underlying support, while the RSI at 47 reflects neutral momentum.

• Resistance:
  • Descending trend line at $51.77
  • Previous highs at $54.39 and $54.86

• Support:
  • Rising trend line at $49.74
  • Major support zone at $45.56

Silver is currently compressed between falling resistance and rising support.
A break above $51.77 could open the door for extended recovery, while a close below $49.74 may strengthen the bearish case.