Overview
- Silver hit an all-time high of $60.9213 an ounce and was last near $60.7465 in early Asia trade after a 4.3% surge the previous session.
- Traders are pricing a quarter-point Federal Reserve cut at the Dec. 9–10 meeting, with comments from Kevin Hassett reinforcing the prospect of lower rates.
- Borrowing and lease rates remain elevated and Shanghai inventories sit near decade lows even as some metal has moved into London vaults.
- Inflows into silver-backed ETFs were the largest in a week since July, adding fuel to the rally.
- After silver’s addition to the US critical minerals list, tariff uncertainty has kept more metal onshore and left Comex inventories near historic highs.