RE: Drop before US open ?3 Dec 2025 15:58
Silver held around $58 per ounce on Wednesday, hovering near record highs and up about 100% year-to-date amid tightening supply and expectations of deeper US Federal Reserve rate cuts. Bloomberg data showed silver-backed ETFs added about 200 tons on Tuesday, lifting total holdings to the highest level since 2022 amid robust demand. A record volume of silver also moved into London last month, tightening supplies in other hubs, while inventories in Shanghai Futures Exchange warehouses dropped to their lowest in a decade. Meanwhile, the Fed is widely expected to cut rates by 25 basis points next week, with markets also pricing in three additional quarter point reductions next year.