Silver hits all-time high, MXV-Index rises for the third consecutive session.

Silver surged, rising more than 4% to around $96 per ounce, setting a record high, while crude oil prices weakened across the board.

MXV-Index rose for the third consecutive session. Source: MXV

At the close of trading, the MXV-Index extended its winning streak to a third consecutive session, rising another 0.6% to 2,591 points.

On the COMEX exchange, the price of standard silver futures surged more than 4%, to around $96 per ounce, setting a record high in history.

According to MXV, this upward trend is mainly driven by technical buying after a short correction period, combined with increasingly clear expectations of a US Federal Reserve (Fed) interest rate cut cycle in 2026.

Additionally, the weakening of the Dollar Index during the session also contributed to supporting the price of precious metals, as silver is priced in USD.

In the long term, MXV believes that the outlook for silver consumption remains strong thanks to industrial demand, especially in the electronics and renewable energy sectors. However, in the short term, silver price movements still depend heavily on expectations regarding the Fed's monetary policy and fluctuations in the US dollar.

Red dominates the energy market. Source: MXV

In contrast to precious metals, the energy sector was dominated by red. Brent crude fell 1.8% to $64.06 per barrel, while WTI crude lost more than 2.1%, retreating to $59.36 per barrel – its lowest level in a week.

According to MXV, the main reason for the sharp drop in oil prices is the significant increase in US inventory data. A report from the US Energy Information Agency (EIA) showed that commercial crude oil inventories increased by more than 3.6 million barrels, three times higher than forecasts. Notably, inventories at Cushing – the delivery point for WTI contracts – also increased sharply, reflecting a clear oversupply situation.

Furthermore, geopolitical risk premiums continue to be eroded as major global hotspots temporarily cool down, leaving markets with little incentive to maintain high prices.

MXV believes that, in the short term, the oil market will continue to be dominated by "hard data" on inventory and demand. As long as the signs of oversupply remain clear, oil prices will find it difficult to regain an upward trend.

Source: https://hanoimoi.vn/bac-lap-dinh-lich-su-mxv-index-tang-phien-thu-ba-731011.html