The Debasement trade is back! – Silver breaks another All-time High

[Ben Graham]

This Thanksgiving week is closing on a pretty interesting setup for when traders return on Monday.

US Stocks are completing their fourth day higher in today’s short session, metals are rallying back towards their all-time highs, cryptos are recovering from the dead, and the US Dollar is taking another hit.

A familiar picture for 2025 Market Flows – The Debasement Trade could be making its way back.

Today’s short session marks the end of November; therefore, the daily closes will be closely monitored for the year-end flows (Month-end sessions are traditionally key for Markets).

Keep an eye on any unusually high volumes around noon as traders prepare to enter December.

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US High-Tier events all the way to the December FOMC Meeting – Source: MarketPulse Economic Calendar

In this unusual format, we’ll take a look at the outperformers of today’s session – The Market is getting ready for next week’s final pieces of data as traders brace for the December 10th FOMC meeting.

Next week will see the release of US PMIs (Manufacturing on Tuesday and Services on Wednesday), and even more importantly, the Core PCE (December 5), which will be the last indicator to determine whether the Fed will cut or not.

Read More:

• Can Platinum catch up to Gold? Platinum (XPT/USD) Price Forecast
• Markets Today: CME Glitch Halts Trading, German Retail Sales Fall, Ukraine-Russia in Focus, FTSE 100 Back Above 100-day MA
• US Dollar takes a hit as Dovish Fed U-turn boosts AUD, EUR, and JPY outlook

Dow Jones closes near 48,000, up 4.38% this week

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Dow Jones (CFD) 4H Chart, November 28, 2025 – Source: TradingView

The Stock Market is back on its high heels in Today's short session with virtually all sectors green except for Google, Nvidia Apple and Healthcare.

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US Equity Heatmap (11:43 A.M.) – November 28, 2025 – Source: TradingView

Gold is back above $4,200, $70 from its all-time highs and up 4% this week

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Gold (XAU/USD) 4H Chart, November 28, 2025 – Source: TradingView

Silver – Booming higher to a new ATH $56.00 – Up 12% this week!

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Silver (XAG/USD) 4H Chart, November 28, 2025 – Source: TradingView

Bitcoin ends the week $12,000 higher

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BTC/USD 4H Chart, November 28, 2025 – Source: TradingView

The picture in Cryptos is looking a bit more healthy after struggling the entire month.

Take a look at Key levels for Bitcoin and Ethereum right here:

The Crypto Bloodbath Stalls: Is a Bottom In?

Safe Trades!

Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier

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