Silver closed the week sharply higher on Friday, 6 November, recording its best weekly gain since August even as prices eased on the final trading day.

Best week since August

The front-month Comex silver contract settled at $51.803 an ounce, up $2.7060, or 5.51%, on the week, according to Dow Jones Market Data. It was the largest weekly gain, in both cash and percentage terms, since the week ending 21 August, and it ended a three-week losing streak.

Friday itself was softer. The contract fell 43 cents, or 0.82%, on the day, ending a two-session winning run. The settlement was the fourth lowest of the year, a reminder of how far the metal has fallen from its January high.

A volatile year

Silver's weekly rebound came from a low base. The contract stood 54.99% below its 52-week high of $115.08, reached on 26 January, and 7.88% above its 52-week low of $48.017, set on 7 November 2025. The settlement was also 5.51% above the 2026 settlement low of $49.097 hit on 30 October.

For the year so far, the front-month contract is down $18.331, or 26.14%, underlining the scale of the retreat from the start of the year even after this week's recovery.

Precious metals together

Silver's weekly gain outpaced gold's 4.60% rise, with the front-month gold contract settling at $4,064.50. The Wall Street Journal reported that precious metals gave back some gains from the previous two sessions but still ended the week higher, as diplomatic efforts in the Middle East and lower oil prices tempered some inflation concerns.

Elsewhere, platinum dipped 0.3% to $1,512.83 and palladium dropped 1.1% to $1,020.10 in Friday trading, Reuters reported, although all three metals were headed for weekly gains.