Silver Extends Gains Above $60 on Rate-Cut Hopes, Tight Supply

Silver Extends Gains Above $60 on Rate-Cut Hopes, Tight Supply

From finance.yahoo.com

Silver extended gains after breaking above $60 an ounce for the first time on Tuesday, with traders betting on further monetary easing by the Federal Reserve and continued supply tightness. The white metal rose to a record $60.9213 an ounce on Wednesday, building on a 4.3% increase in the previous session. Silver’s rapid advance in recent days has been supported by expectations the US central bank will deliver a quarter-point rate reduction at the end of its Dec. 9-10 meeting. Lower borrowing costs are a tailwind for non-yielding precious metals. Traders are also looking beyond this week’s Fed decision in search ... (full story)

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