Saad Ullah
⬤ Silver futures kept climbing on Wednesday, with the March 2026 contract (XAG) hitting a new record high. The metal surged past major resistance levels to reach $62.20 during the session, capping off a rally that's been building for months. The chart shows a clear uptrend with silver breaking into territory it's never seen before.
⬤ XAG has been pushing higher since early autumn, making a steady series of higher highs and lows. After hanging around the $58 mark, silver broke out again, punching through resistance and setting a fresh peak. The recent candles show strong buying pressure as traders pile in, likely responding to changing economic conditions and expectations around easier monetary policy.
Silver's move into uncharted territory underscores the structural momentum behind the rally.
⬤ The price action suggests silver's uptrend isn't going anywhere yet. The push above $62 sets a new benchmark and shows market confidence in the metal's strength. Even when silver dips briefly, buyers step right back in, keeping the momentum going and driving the futures contract to record levels.
⬤ Fresh all-time highs typically grab more attention and can fuel further gains. Silver's breakout could shift sentiment across the metals market, affecting how traders view inflation risks, monetary policy, and safe-haven demand. Now that XAG is trading above old resistance zones, everyone's watching to see if momentum keeps building or if the market takes a breather at these new highs.
Saad Ullah
