Silver Price Analysis as October Sell-Off Tests the Market’s Recovery Prospects - Brave New Coin

AI desk brief

Silver is under pressure after a sharp October sell-off, with the metal down 5.96% on the week to $53.883/oz and trading around $53.9 on Oct. 24 after slipping from above $57 earlier in the week. The analysis flags $53-$55 as the key near-term support zone; a break below $53 opens downside toward $50, while a recovery above $55 would be an initial stabilisation signal.

Technicals remain weak, with silver below its moving averages at $61.309 and $63.618 and RSI at 31.58, near oversold but not yet confirming a reversal. The piece says the next move depends on US Treasury yields, the dollar and broader precious-metals sentiment, while JPMorgan’s August forecast cited an average of $63/oz for Q4 and $70.60/oz for 2026 on easing physical tightness, softer industrial demand and rate pressure.