Silver traded just below $53 per ounce on Thursday, hovering near record highs amid growing expectations that the US Federal Reserve will cut interest rates further. Markets now price in roughly an 85% chance of a 25 basis point cut in December, up sharply from about 30% a week ago, with three additional cuts anticipated by the end of 2026. Expectations were bolstered by reports that White House National Economic Council Director Kevin Hassett is the leading contender for the next Fed chair, a choice investors see as aligned with President Donald Trump’s preference for lower rates. Since October, silver has been testing all-time highs as global economic uncertainties, the prospect of lower interest rates, and tightening physical conditions have boosted demand for the precious metal.
