Silver Could Be Near Its Final Low, Peter Brandt Says, But There’s a Catch

Silver prices could be approaching their final low, according to veteran trader Peter Brandt. However, he expects any subsequent recovery to be gradual rather than explosive.

The precious metal traded at $53.18 per ounce on Thursday, up 1.76% on the day. That still leaves it about 56% below its January record of $121.74.

Where Does Peter Brandt Expect Silver’s Final Low to Land?

On X, Brandt said two versions of his chart, weekly and daily, both show a falling wedge.

The pattern forms when prices slide between two downward-sloping lines that slowly converge. Chart analysts often read it as a sign that selling pressure is fading.

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X silver bullsI've drawn this chart in a couple of ways — weekly line and daily candlesAll evidence points to a falling wedge at this time with final low slightly below 50-year supportRemember, prices after escaping a falling wedge typically roll out — they do not burst out… pic.twitter.com/CCVAvs3TVZ

— The Factor Report (@PeterLBrandt) November 4, 2026

Brandt expects the wedge’s final low to form slightly below silver’s 50-year support. His charts draw that line near $56 on Comex silver futures, a level silver already trades below.

The wedge’s lower edge sits near $48, where Brandt marked a red arrow. On both of his charts, silver has not yet touched that line.

He added that he had hoped for prices in the low $40s but no longer expects them.

His view builds on an October 30 post. There, he described the selloff as a purge of buyers who held above $90 to $100. He said bottoms begin to form this way.

The catch lies in how wedges usually resolve. Brandt cited Richard Schabacker, Robert Edwards and John Magee, early authors of chart-pattern textbooks. 

“Remember, prices after escaping a falling wedge typically roll out — they do not burst out (Schabacker, Edwards/Magee),” he wrote. 

Even so, he still sees sharply higher silver prices in the years ahead.

Can the Midterm Rally Carry Silver Without Help From the Fed?

Whether silver prices can keep rising also depends on the dollar and the Fed’s next move.

The latest silver rally started when Democrats won both chambers of Congress. The US dollar index then fell to a one-month low of 101.099.

The 10-year Treasury yield slid to 4.89% on the same day. A weaker dollar makes dollar-priced metals cheaper for buyers abroad.

Peter Schiff, founder of bullion dealer SchiffGold, went further than Brandt. He said silver may never trade below $50 again.

After being up over $130 today, gold is up another $55 tonight, trading above $4,100. It's possible it may never trade below $4,000 again. Silver is up another 40 cents, trading above $52.50. It may never trade below $50 again. Just in case, buy both now. https://t.co/CY02g7NyCR

— Peter Schiff (@PeterSchiff) November 5, 2026

Interest rate expectations point the other way. On Wednesday, CME FedWatch still showed an 82% chance of a December Fed rate hike.

Higher rates raise the cost of holding metals that pay no interest. Friday’s US jobs report is the next test for those odds.

A strong report could lift hike bets and may drag silver back toward the lower edge of Brandt’s wedge.

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