Usman Salis
⬤ Silver pulled back sharply after climbing near $65, ending what's been one of the most impressive rallies in precious metals this year. The drop wasn't caused by anything dramatic—it's simply traders cashing out after a strong run through October, November, and early December. When prices get this extended, profit-taking becomes almost inevitable.
⬤ The daily chart tells the story clearly: silver couldn't hold above the $64–$65 zone and reversed with a large red candle that signaled short-term exhaustion. While the pullback is notable, silver's still trading well above its breakout levels from earlier in the fall, keeping the broader uptrend alive for now.
⬤ Looking at the bigger picture, silver's performance this year has been remarkable—up over 100% in 2025 and still showing nearly 5% weekly gains before the selloff. After moves like that, some traders naturally want to lock in profits, especially heading into a weekend. The selling looked orderly rather than panic-driven, which suggests the market's digesting gains rather than rejecting the rally entirely.
⬤ This pullback is worth watching because it shows how markets behave after historic runs. Short-term corrections often reset momentum without killing the trend. Whether silver can stabilize above $60 or continues lower will likely set the tone for precious metals sentiment in the near term.
Usman Salis
