Silver rose by 1.6%, reaching 61.61 dollars per ounce

The price of silver continued to rise on Wednesday, reaching a record of $61.6145 per ounce, after surpassing the $60 threshold for the first time on Tuesday. This appreciation was driven by supply restrictions and speculation that the U.S. Federal Reserve will cut interest rates at the meeting on December 9-10. Lower borrowing costs are favorable for precious metals, and silver has been supported by inflows into exchange-traded funds, with a significant increase in investments in silver-backed ETFs.

Additionally, silver has recorded a 100% increase this year, even eclipsing the 60% rise of gold. Despite a supply crisis that has eased, interest rates remain high, and investors continue to be optimistic, speculating on a possible reach of the price of $100 per ounce.