Core Viewpoint - Silver prices have surged to a record high, surpassing $60 per troy ounce, driven by a global supply squeeze and anticipated interest rate cuts by the Federal Reserve [1][2]. Group 1: Price Movement - Spot silver rose approximately 4% to around $60.82 per troy ounce, while silver futures increased over 4% to nearly $61, reaching an intraday high of $61.06 [2]. - The price of silver has doubled this year, significantly outpacing gold [1]. Group 2: Economic Factors - Traders are pricing in an 87% probability of the Federal Reserve lowering interest rates by a quarter-point, which would reduce rates to between 3.5% and 3.75% [3]. - The U.S. dollar index has decreased by 8.5% this year, including a 0.5% decline in the last month, which typically correlates with rising precious metal prices [3]. Group 3: Supply Chain and Market Dynamics - Silver has been classified as a critical mineral by the U.S. Geological Survey, indicating its importance to the U.S. economy and potential risks from supply chain disruptions [4]. - Reports indicate a lack of liquidity in the silver market, particularly in London, with claims that the current market conditions are unprecedented [5].

Core Viewpoint - Prices of the metal have reached a new record high due to traders in the U.S. stockpiling amid supply concerns and optimism regarding a potential rate cut next week [1] Group 1 - The increase in prices is attributed to fears surrounding supply shortages [1] - There is a growing optimism among traders about a possible interest rate cut in the upcoming week [1]

Stock image. Copper prices soared to a new record in London following a spike in orders to withdraw the metal from London Metal Exchange warehouses amid concerns of a global supply squeeze.Futures on the LME jumped as much as 2.6% to more than $11,400 per tonne during Wednesday’s morning trading, surpassing the previous peak set two sessions ago. It has since retreated to around the $11,100 level.The copper rally has been building momentum in recent weeks as a growing chorus of traders and analysts warned o ...

Supply Chain Dynamics - China increased rare earth magnet shipments in June following a global supply squeeze [1] - Shipments included exports to the US [1]