Group 1 - The recent surge in silver prices is driven by multiple factors, including the Federal Reserve entering a rate-cutting cycle, which has lowered the dollar interest rate by a total of 75 basis points this year [5] - The CME's "FedWatch" tool indicates that there may be 1-2 more rate cuts expected next year, with a median forecast of a 25 basis point cut in 2026 [5] - As the dollar weakens, the cost of holding dollar-denominated assets decreases, leading to increased purchases of precious metals, particularly silver, as investors seek safe-haven assets amid geopolitical tensions [5] Group 2 - COMEX silver inventories remain low, and as delivery dates approach, concerns about the availability of physical silver for delivery have created a short squeeze, further driving up prices [6] - A similar situation occurred earlier this month when COMEX silver futures approached their delivery date, causing a spike in prices due to fears of insufficient silver for delivery [6] - The timing of this price surge is particularly sensitive as the year-end approaches, which can amplify market reactions [6]