Silver extended its winning streak to three consecutive sessions on Thursday, climbing to $62.9 during Asian trading hours. The precious metal’s sharp ascent follows the U.S. Federal Reserve’s widely anticipated 25-basis-point interest rate reduction, which catalyzed aggressive bullish positioning among traders despite market expectations.

Domestic markets reflected the international rally with equal intensity. On India’s Multi-Commodity Exchange (MCX), silver futures surged Rs 5,500—a substantial 2.84% gain—to reach Rs 1,94,000 per kilogram. The contract briefly touched Rs 1,93,720 per kg during intraday trading.

This week, silver has gained over 7%, with month-to-date gains hitting nearly 10%. Minor pullbacks, such as the dip from $62.9, occurred on low volume, showing that selling pressure is limited. The 20-day EMA at $61.6, which had been resistance, now acts as solid support. Investors are defending these levels, keeping silver firmly in bullish territory.

Even with the Fed’s cautious stance, the macro backdrop favors silver. Jerome Powell noted that inflation remains high, but employment risks have grown, leaving investors optimistic about future rate cuts in 2026. Weak real yields, a softening dollar, and cautious market sentiment amid AI sector uncertainty are all reinforcing silver’s appeal.

Beyond monetary policy tailwinds, analysts attribute silver’s robust performance to surging industrial consumption across critical sectors. rally underscores both global monetary easing sentiment and the fundamental shift in silver’s industrial demand profile