Overview
- Spot silver touched about $61.61 per ounce on Wednesday, taking monthly gains above 8% and more than doubling its price since January.
- Traders positioned for a 0.25 percentage point U.S. Federal Reserve cut later Wednesday, a setup that tends to favor precious metals that do not pay interest.
- Dealers report strong industrial pull from the photovoltaic sector alongside increased buying from India and silver ETFs.
- Heraeus says concern over U.S. tariffs prompted large shipments into the United States, creating a liquidity squeeze that lifted prices.
- Chinese silver inventories are at record lows, while Heraeus forecasts a 2026 consolidation with silver likely to remain more volatile than gold.