Overview
- Spot silver pushed above $64 per ounce and MCX futures briefly topped Rs 2,00,000 per kg, leaving the metal up roughly 10% for the week.
- At these prices, silver’s implied market value was reported near $3.59 trillion, edging past Microsoft to become the fifth-largest asset globally.
- The advance followed the Fed’s 25 bps cut and a softer dollar, as ETF holdings rose by about 35 million ounces in a month and call-option activity jumped.
- Physical tightness persisted after a recent London squeeze, with inventories strained and strong Asian delivery demand amplifying price moves.
- Market strategists warned of overheated, momentum-driven conditions and advised waiting for pullbacks, even as solar, electronics and EV demand supports the longer-term case.