Silver price hits new record. (Source: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Silver surged past $60 an ounce for the first time, hitting a fresh record of $60.9213 on Wednesday after a 4.3% jump in the previous session, as traders bet on further monetary easing and grappled with persistent supply tightness.

The white metal has been the standout performer this year, delivering 107% year-to-date gains, far outpacing gold’s 59% rise.

What’s Driving Silver’s Historic Rally?

Rate Cut Hopes

Renewed expectations of a Federal Reserve rate cut in December have boosted sentiment. Lower interest rates reduce the opportunity cost of holding non-yielding assets like silver, making it more attractive to investors.

With the big Fed day upon us, and with the li

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