Silver (XAG/USD) continues to trade on a firmer footing, holding above the $49.00 mark during Monday’s Asian session. The precious metal extends its gains for the second consecutive day, supported by a softer US Dollar (USD), although improving global risk sentiment could limit further upside momentum.

Investor optimism improved after the US Senate passed the first procedural vote to advance a bill aimed at reopening the government and extending funding for key departments. The motion, approved by a 60–40 margin, represents a significant step toward ending the record-breaking government shutdown. The legislation would also extend subsidies under the Affordable Care Act, though it must still pass the House of Representatives before being signed into law by President Donald Trump.

While the potential resolution of the US government shutdown has boosted market confidence, it also reduces demand for safe-haven assets like Silver. The metal’s recent gains—over 1.5% on Monday—were largely driven by weakness in the US Dollar, as investors adjusted positions amid uncertainty over fiscal developments and mixed macroeconomic signals.

Adding to the improving risk tone, China’s Ministry of Commerce announced a temporary suspension of export restrictions on “dual-use items” such as gallium, germanium, and antimony—materials critical to the semiconductor and defense industries. The suspension, effective until November 27, 2026, signals a modest thaw in US-China trade relations and could ease supply-chain tensions between the two economic giants.

From a broader perspective, Silver’s near-term trajectory remains tied to the interplay between the US Dollar’s performance, macroeconomic data releases, and global sentiment. A decisive move above $49.50 could pave the way toward the $50.00 psychological level, while a failure to hold above $48.80 may trigger a corrective pullback toward the $48.30 region.