• Spot silver surged 4.2%, climbing above $35.90 per ounce — the highest level since February 2012.
• The rally was driven by a combination of technical momentum, strong fundamentals, and increased investor interest.
• Silver is now catching up with gold, drawing attention from momentum-driven investors shifting their focus.
• Silver-backed ETFs reported inflows of 2.2 million ounces in a single day, reflecting rising institutional appetite.
• Money managers also increased their bullish positions in Comex silver futures.
• Industrial demand continues to rise, especially from the clean energy sector, where silver is a key component in solar panel production.
• Recent economic data from the US showing weakness in services and hiring raised expectations for interest rate cuts by the Federal Reserve, which typically supports precious metal prices.
• Gold has gained 44% over the past year, while silver is up around 20%, indicating potential for further catch-up.

What’s Next?
• While silver has trailed gold for much of the recent rally, this breakout highlights renewed confidence in its dual role as a financial and industrial asset. Fundamentals remain supportive, especially given continued demand from clean energy and the likelihood of Fed rate cuts. However, after such a sharp move, short-term corrections are possible. In the long run, silver’s outlook remains strong as macro uncertainty and industrial use both persist.