Silver breached the $45 psychological mark on COMEX while gold hovered near all-time highs on September 29, 2025, driven by a weaker dollar and growing expectations of continued Federal Reserve rate cuts.

Traders are pricing in a 90 per cent probability of a Fed rate cut in October and a 65 per cent chance of another reduction in December, according to Manav Modi, Analyst – Precious Metal Research at Motilal Oswal Financial Services Ltd.

The U.S. Commerce Department reported the Personal Consumption Expenditures Price Index rose 0.3 per cent in August, in line with expectations.

“Silver is where the real upside lies,” said Sourav Choudhary, Managing Director at Raghunath Capital. “With the gold-to-silver ratio stretched at 87:1 versus its 63:1 average, silver is poised for an explosi

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