Silver rose above $49 per ounce on Monday, reaching a three-week high amid growing concerns over the US economy. The rally was supported by a weaker dollar, which makes dollar-denominated commodities cheaper for foreign buyers. The University of Michigan’s consumer sentiment index fell to 50.3 in November, the second-lowest reading on record and below expectations of 53.2, as Americans worried about the economic fallout from the longest government shutdown in US history. Private data on Thursday showed the US economy lost 153,000 jobs in October, the highest for the month in 22 years, driven largely by cost-cutting and AI adoption. In monetary policy, markets remain divided on whether the Federal Reserve will cut rates in December, with traders pricing in roughly a 67% chance of a quarter-point reduction, unchanged from Friday.
