“Silver price hits record high, surpassing October peakThe price of silver surged to a record high, exceeding $54.76 per ounce, driven by hopes of a US Federal Reserve rate cut and a supply shortage. The London silver market reported a severe supply deficit, impacting prices in Shanghai and New York.
”, — write: unn.ua
DetailsSpot prices rose by 2.6%, exceeding $54.76 per ounce. The white metal was supported by growing hopes for a Federal Reserve interest rate cut in December, an inflow of funds into exchange-traded funds backed by bullion, and persistent supply shortages. Volatile price dynamics and low liquidity were observed for both gold and silver on Friday after a multi-hour halt in futures trading on the CME’s Comex exchange.
In October, London, a major silver trading hub, experienced a severe supply deficit, leading to a sharp rise in silver prices above levels in Shanghai and New York. Although the arrival of nearly 54 million troy ounces eased this pressure, the market remains noticeably tight, with the cost of borrowing the metal for the month significantly exceeding normal levels.
Flows into the London market are now putting pressure on other hubs, particularly in China. Silver inventories in warehouses associated with the Shanghai Futures Exchange recently reached their lowest level since 2015, while trading volumes on the Shanghai Gold Exchange have returned to their lowest values in more than nine years, according to exchange and brokerage data.
Traders are also monitoring the possibility of tariffs on silver after the precious metal was included in the U.S. Geological Survey’s list of critical minerals in November. Although 75 million ounces have been withdrawn from Comex futures exchange vaults in New York since early October, fears of a sudden price surge for U.S. silver have prompted some traders to refrain from supplying the metal from the country.
Gold cheaper after record growth amid conflicting Fed signals on December rate cut – Reuters27.11.25, 11:15 • 2792 views