Silver Extends Record-Breaking Rally on Tight Global Supplies

Group 1 - Silver prices surged to a new peak, reaching $57.86 an ounce, after a nearly 6% increase on Friday, marking a doubling in value this year, significantly outpacing gold's 60% rally [2][4] - A record amount of silver entered London in October to alleviate a historic supply squeeze, but this has led to pressure on other trading centers, with Shanghai Futures Exchange inventories hitting a nearly decade-low [3][4] - Increased expectations for a Federal Reserve interest rate cut in December have contributed to the rise in both silver and gold prices, as lower borrowing costs typically benefit non-yielding precious metals [4][5] Group 2 - The gold-silver ratio has approached 70, indicating a growing interest in how silver's price compares to gold, which is a key metric for investors [5][6] - Concerns over potential tariffs on silver, following its addition to the US Geological Survey's list of critical minerals, may deter traders from exporting the metal, exacerbating supply issues [6] - Investor interest in silver has intensified, with inflows into physically backed exchange-traded funds increasing after profit-taking in October [7]