Hot Commodities: Silver soars to new peaks on safe-haven frenzy

Silver surged more than 6% to above $84.5 per ounce on Monday, scaling fresh record highs as a potent mix of rate-cut expectations and rising geopolitical risks ignited safe-haven demand. The rally drew added momentum from a softer US dollar, with the dollar index easing toward 98.5. Investor nerves remained on edge as nationwide protests in Iran entered a third week, drawing sharp warnings from US President Donald Trump and counter-cautions from Tehran against any external intervention. Markets also leaned bullish on precious metals after a softer-than-expected US jobs report reinforced expectations of two Federal Reserve rate cuts later this year, even as policymakers are seen holding rates steady in the near term. In the domestic market, MCX March silver futures climbed nearly 5% to ₹263,761 per kg, mirroring the global surge in prices.

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