Silver's 9-Month Rally Pauses Near Historic Highs

⬤ Silver futures are showing signs that their historic winning streak might finally be coming to a close. The precious metal has enjoyed nine consecutive months of gains—the longest monthly run on record—but momentum is now cooling as prices hover near elevated levels, according to Barchart.

⬤ March 2026 silver futures recently traded around $77.964, with chart patterns revealing hesitation after a powerful rally into early this year. The latest monthly candle suggests the upward momentum is losing steam following an accelerated climb. This behavior mirrors patterns seen when silver pulls back from $84 after a rally and when the metal struggles below $83 after rejection.

⬤ Throughout the nine-month streak, each monthly close finished higher than the previous one—a testament to sustained buying pressure across the precious metals complex. However, market observers note that even strong trends need to pause and consolidate.

⬤ If February closes lower than January, it would mark the first monthly decline since mid-2025, potentially reshaping near-term expectations for silver and related metals. Still, a single month of consolidation doesn't necessarily signal a major reversal. Similar pauses appeared during recent moves when silver tests key resistance after an extended rally, only for the uptrend to resume afterward.

⬤ The historic nature of this winning streak highlights just how exceptional silver's performance has been. Nine consecutive positive months is unprecedented in the futures market's history, reflecting extraordinary demand dynamics and favorable macro conditions that pushed prices from below $30 to nearly $80 in less than a year.

⬤ Traders will be watching closely to see whether this pause represents a healthy consolidation within an ongoing bull market or the beginning of a deeper correction. Either way, the end of the streak marks a notable shift in what's been an extraordinary run for silver investors.