Silver prices surged past $34 per ounce, extending gains and are set to end Q1 with over 18 percent spike. Silver has continued to outperform gold this year as well, with the steep fall of 4% in the US dollar supporting the silver bulls. Recent gains are driven by optimism that President Donald Trump may take a more targeted approach to tariffs before the April 2 deadline. However, uncertainty lingers as Trump vowed fresh levies on automobiles, pharmaceuticals, and other industries. Expectations of Fed rate cuts further fueled silver's rally, with markets pricing in two quarter-point cuts in June and September, and a possible third cut in December. MCX silver futures also touched a high of ₹101999 per kg on March 14 and were last seen trading ₹129 higher at ₹99615, reflecting strong domestic demand.

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