After a heated rally in the rare metals group in general — and silver in particular — the market saw a sharp correction. Except for gold, which just suffered a steep drop of over 5% in a single day, silver was not spared either, falling more than 12% in just one week right after hitting its peak around $54.
This deep correction is seen by market experts as an inevitable move after a rapid and strong rally in rare metals, driven by a sudden surge in demand over a short period amid major global events — particularly the Middle East conflict, Trump’s tariff policies, and the ongoing U.S. government shutdown.
However, in the long-term trend, silver is still expected to have growth potential, as geopolitical risks and the possibility of the U.S. Federal Reserve easing monetary policy could reignite safe-haven buying momentum.
Investors are now closely watching the U.S. Consumer Price Index (CPI) data, scheduled to be released on the evening of October 24 (Vietnam time), which is considered a key factor guiding interest rate expectations while the U.S. government remains temporarily shut down.
Trí Hùng
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