Silver  kicked off the week with renewed vigor, reversing Friday’s pullback from its all-time high near $64.65. Fresh buying emerged around the 100-hour Simple Moving Average (SMA), propelling the white metal above the mid-$62.00s during the Asian session—marking a 1.25% daily gain.

This bounce reinforces the multi-week uptrend, driven by safe-haven demand amid geopolitical tensions, persistent inflation concerns, and industrial demand from solar and electronics sectors.

• Support and Bounce Dynamics: The 100-hour SMA acted as a reliable floor, with prices rebounding sharply. Breaking back above the $62.00 psychological level confirms bullish control, targeting intermediate resistance at $63.50 (near Friday’s high) and the all-time peak at $64.65.
• Uptrend Integrity: Silver remains within a well-defined ascending channel on the 4-hour chart, with the 50-hour SMA now providing dynamic support near $61.80. A sustained hold here could eye $65.00 in the near term

Geopolitical risks (e.g., Middle East tensions) and a weakening USD (DXY below 105) bolster silver’s appeal over gold, especially for industrial users in India amid rising import duties on lab-grown alternatives. However, Fed rate cut expectations could cap gains if data softens. Bulls hold the edge for now—favor dips for longs—but avoid aggressive bets until RSI cools.

Jewellery Sector Implications: With MCX silver mirroring spot gains, Indian wholesalers may see margin relief. Monitor for $63+ breakouts to hedge physical inventory.