Peter Smith
⬤ Silver set a record on Tuesday when the price rose above $61 for the first time. At noon the March 2026 futures contract stood at $61.19, a clear escape from the ceiling that had blocked every advance this year.
⬤ The climb began to speed up in late November while the metal changed hands in the mid-50s. Early December brought even faster gains. On Tuesday the March contract added $2.785, equal to 4.77 %, the strongest one day rise of the quarter. Since September the chart has traced a sequence of rising lows followed - rising highs, a pattern that underlines the uptrend.
Market analysts said the push through $61 proves the bullish momentum they had followed for weeks.
⬤ Two forces power the advance - firm industrial demand and broad macroeconomic shifts that tighten the precious metals market. Each dip of recent months halted at a higher floor, a sign that buyers appear at every step. Once the $61 level cracked, purchases surged and sent the contract far beyond any earlier peak.
⬤ A move into never seen highs often alters sentiment. Silver has reacted sharply to fresh macro cues and the $61 mark places the metal in an untested range. With the March 2026 contract now resting above every past quote, traders will watch for volatility patterns and demand signals that may steer the next leg of the rally.
Peter Smith
