Hot Commodities: Silver smashes fresh 14-year peak above $47

Silver surged over 1% to above $47 per ounce on Monday, marking a fresh 14-year high as the dollar weakened amid mounting concerns over a US government shutdown. Investors traded cautiously ahead of US non farm payrolls data due to release later this week, that could influence the Federal Reserve?s policy direction. The latest PCE report confirmed contained inflationary pressures, reinforcing expectations of possible rate cuts. On the supply-demand side, industrial consumption remains strong, led by solar, electric vehicles, and electronics fabrication, keeping usage above 700 Moz annually. The Silver Institute expects a fifth straight annual deficit, with demand outpacing supply by over 100 Moz. MCX December futures climbed above Rs 143,000, hitting an intraday high of Rs 144,179 per kg.

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