Silver Booms to New Highs, 100% Up YoY — Is a Crypto Breakout Coming Too?

Group 1: Precious Metals Market - Gold climbed to its highest level in six weeks, with spot prices exceeding $4,240 an ounce as investors increased bets on a US interest-rate cut [2][3] - Silver reached a record near $57.86, now up more than 100% this year, driven by rate-cut expectations, a weaker dollar, and stronger industrial demand [2][3][8] - The anticipation of looser monetary policy and recent soft US economic data have contributed to the rally in precious metals [3] Group 2: Cryptocurrency Market - Bitcoin has dropped over 30% from its October peak of approximately $126,000, currently trading around $86,000, marking the worst late-year performance since the 2022 bear market [4][8] - The wider crypto market has lost about $1 trillion in value over the past six weeks, with Bitcoin accounting for over $400 billion of that decline [5] - US spot Bitcoin ETFs experienced roughly $3.5 billion in net outflows in November, the heaviest monthly withdrawal since approvals early last year, indicating rising macro risks [5][8] Group 3: Market Sentiment and Trends - Analysts highlight stronger industrial demand for silver as a supportive factor, alongside its role as a hedge against declining confidence in paper assets [4] - Despite the challenges in the crypto market, there are signs that ETF outflows may be slowing, with a modest return to net inflows of about $70 million late in November [7]