Core Viewpoint - International silver prices are approaching historical highs due to expectations of a Federal Reserve interest rate cut and escalating geopolitical tensions [1][3]. Group 1: Federal Reserve Interest Rate Expectations - The probability of a 25 basis point rate cut by the Federal Reserve in December is as high as 86.9%, with only a 13.1% chance of maintaining current rates [3]. - The FedWatch model, which predicts these probabilities, is highly sensitive to fluctuations in option prices, and the probabilities may change significantly as the December 10 rate decision approaches [3]. Group 2: Geopolitical Tensions - President Trump has indicated potential ground actions against Venezuela, which could escalate tensions in the Caribbean and drive safe-haven demand for silver and gold [3]. - The conflict between Russia and Ukraine may see a turning point, as a peace plan has gained basic acknowledgment from both President Zelensky and President Putin, which could reduce global risk aversion if the conflict ends [3]. Group 3: Technical Analysis of Silver Prices - Technically, silver is currently in a long-term upward trend, but there is uncertainty about whether the current upward wave will end soon [5]. - There is a possibility that silver may reverse after reaching the $55 resistance level, potentially forming a classic triple top pattern, which would make it more difficult to break through historical high price levels [5].