Silver (XAG/USD) climbed for a second straight session on Monday, trading near $49.20 per troy ounce during Asian hours. However, further upside may be capped as market sentiment brightens amid signs that the U.S. Senate is poised to approve a funding bill to end the government shutdown.
The Senate took a crucial step toward reopening the government by voting 60–40 in favor of the amended funding measure, which would also extend the enhanced Affordable Care Act subsidies. According to Reuters, the bill must still clear the House of Representatives and then win President Trump’s signature—a process that could take several more days.
Silver’s rally could be further challenged by easing trade tensions between the world’s two largest economies. China’s Ministry of Commerce announced it will temporarily lift its ban on approving exports of certain “dual-use” items—such as gallium, germanium, antimony, and super-hard materials—to the U.S., effective immediately and running through November 27, 2026.
Despite these headwinds, silver surged more than 1.5% on Monday, buoyed by a softer U.S. dollar that makes dollar-denominated commodities more affordable for overseas buyers. Still, any resolution to the government shutdown could lend support back to the greenback, potentially limiting silver’s further gains.
