"Silver has hit a new record high, as traders scramble to get their hands on the devil's metal ahead of tonight's US interest rate decision. The price of silver rose over $60 per ounce for the first time yesterday, and this morning it's risen further, to $61.40. Analysts say a range of factors are pushing up silver; there are shortage fears as demand rises. Tony Sycamore, market analyst at IG,"
"explains: Silvers gains are being driven by deepening structural supply deficitsworsened by falling mine production in major regions and persistently low global inventoriescombined with rapidly rising industrial demand from the green-energy transition, especially solar photovoltaics, electric vehicles, and AI-related hardware. Expectations of US interest rate cuts, which weaken the dollar, also push up the value of precious metals. The US Federal Reserve is widely expected to cut US interest rates tonight, by a quarter of one percentage point."
Silver reached a record high, climbing past $60 per ounce and trading at $61.40 as of this morning. Gains reflect deepening structural supply deficits, falling mine production in major regions, and persistently low global inventories. Rapidly rising industrial demand from the green-energy transition, notably solar photovoltaics, electric vehicles, and AI-related hardware, is increasing consumption. Expectations of imminent US interest-rate cuts, which weaken the dollar, are supporting precious-metal prices. The US Federal Reserve is expected to reduce interest rates tonight by 0.25 percentage points. SpaceX plans a large 2026 share sale seeking to raise tens of billions and targeting a valuation above $1 trillion, potentially up to $1.5 trillion.
Read at www.theguardian.com
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