March Silver futures rallied more than 4.5% to close above $61, reaching fresh highs as global inflation concerns resurfaced. The move was supported by the Reserve Bank of Australia maintaining interest rates at 3.6% while signaling potential hikes to combat rising prices. While gold also posted gains, it did not reach new highs. Attention now turns to the upcoming FOMC meeting, where a rate cut is expected despite deep divisions between hawks and doves regarding U.S. monetary policy.