Author: admin

Spot silver rose about 4% over the last day to around $60.82 per troy ounce on New York’s Commodity Exchange as of Tuesday afternoon, while silver futures jumped more than 4% to nearly $61, after earlier hitting an intraday high of $61.06.

The latest surge in silver prices comes as traders are pricing in 87% odds of the Federal Reserve lowering interest rates by a quarter-point Wednesday, according to CME’s FedWatch tool, which would cut rates to between 3.5% and 3.75%—an uptick in precious metal prices often coincides with reduced interest rates and a weaker U.S. dollar.

The U.S. dollar index has dropped 8.5% this year, including a 0.5% decline over the last month.

Silver was added to the U.S. Geological Survey’s list of critical minerals in November, indicating the metal is “vital” to the U.S. economy and faces potential risks from disrupted supply chains, reportedly signaling to investors that silver may face tariffs in the U.S. amid dwindling global inventories.

Supply in silver’s global trading hub, London, disappeared earlier this year: Anant Jatia, Greenland Investment Management’s chief investment officer, told Bloomberg there was “no liquidity available” in October, adding, “What we are seeing in silver is entirely unprecedented.”