Silver has climbed above USD 40 an ounce to its highest level in 14 years, extending a rally that has already delivered a 37.5% year-to-date gain. Gold is up 31% over the same period, but silver’s outperformance reflects its dual role as both an investment and industrial metal. The latest advance is not the start of a new trend but a continuation of a rally that began in 2022, driven by the same macro forces supporting gold. Most recently, expectations for rate cuts have intensified as Trump’s tariff policies threaten growth while keeping inflation sticky, compounded by concerns over Federal Reserve independence and ... (full story)