The post Here’s Why Record Silver Prices Are Outpacing Gold appeared on BitcoinEthereumNews.com. Topline Silver prices rose to a record high Tuesday, surpassing the $60 milestone for the first time as the precious metal has outpaced gold this year amid a global supply squeeze and another expected interest rate cut by the Federal Reserve. The price for the precious metal has doubled this year amid a global inventory squeeze. dpa/picture alliance via Getty Images Key Facts Spot silver rose about 4% over the last day to around $60.82 per troy ounce on New York’s Commodity Exchange as of Tuesday afternoon, while silver futures jumped more than 4% to nearly $61, after earlier hitting an intraday high of $61.06. The latest surge in silver prices comes as traders are pricing in 87% odds of the Federal Reserve lowering interest rates by a quarter-point Wednesday, according to CME’s FedWatch tool, which would cut rates to between 3.5% and 3.75%—an uptick in precious metal prices often coincides with reduced interest rates and a weaker U.S. dollar. The U.S. dollar index has dropped 8.5% this year, including a 0.5% decline over the last month. Silver was added to the U.S. Geological Survey’s list of critical minerals in November, indicating the metal is “vital” to the U.S. economy and faces potential risks from disrupted supply chains, reportedly signaling to investors that silver may face tariffs in the U.S. amid dwindling global inventories. Supply in silver’s global trading hub, London, disappeared earlier this year: Anant Jatia, Greenland Investment Management’s chief investment officer, told Bloomberg there was “no liquidity available” in October, adding, “What we are seeing in silver is entirely unprecedented.” Big Number Nearly 109%. That’s how much spot silver has increased this year, outpacing gold, which has surged 60% while setting several milestones. Spot gold has increased just 0.4% over the last day to around $4,226, after hitting… The post Here’s Why Record Silver Prices Are Outpacing Gold appeared on BitcoinEthereumNews.com. Topline Silver prices rose to a record high Tuesday, surpassing the $60 milestone for the first time as the precious metal has outpaced gold this year amid a global supply squeeze and another expected interest rate cut by the Federal Reserve. The price for the precious metal has doubled this year amid a global inventory squeeze. dpa/picture alliance via Getty Images Key Facts Spot silver rose about 4% over the last day to around $60.82 per troy ounce on New York’s Commodity Exchange as of Tuesday afternoon, while silver futures jumped more than 4% to nearly $61, after earlier hitting an intraday high of $61.06. The latest surge in silver prices comes as traders are pricing in 87% odds of the Federal Reserve lowering interest rates by a quarter-point Wednesday, according to CME’s FedWatch tool, which would cut rates to between 3.5% and 3.75%—an uptick in precious metal prices often coincides with reduced interest rates and a weaker U.S. dollar. The U.S. dollar index has dropped 8.5% this year, including a 0.5% decline over the last month. Silver was added to the U.S. Geological Survey’s list of critical minerals in November, indicating the metal is “vital” to the U.S. economy and faces potential risks from disrupted supply chains, reportedly signaling to investors that silver may face tariffs in the U.S. amid dwindling global inventories. Supply in silver’s global trading hub, London, disappeared earlier this year: Anant Jatia, Greenland Investment Management’s chief investment officer, told Bloomberg there was “no liquidity available” in October, adding, “What we are seeing in silver is entirely unprecedented.” Big Number Nearly 109%. That’s how much spot silver has increased this year, outpacing gold, which has surged 60% while setting several milestones. Spot gold has increased just 0.4% over the last day to around $4,226, after hitting…