March Silver futures finished the week with a second new cycle high, settling up 8.85% for its strongest weekly gain in three weeks. The rally was supported by a benign FOMC path, with the CME FedWatch tool indicating traders are pricing in two rate cuts through 2026. Beyond monetary policy, Silver futures remain supported by a strong fundamental backdrop including global demand from AI, quantum computing, and the broad electrification of vehicles. Despite a slight drop in speculative net long positions in the December 16 Commitment of Traders report, the long-term view remains bullish.