At-a-Glance
Today’s Top Highlights
Silver futures staged an extraordinary rally today, shattering historical resistance to trade at unprecedented levels above the $61 per ounce mark. This aggressive move, which saw the metal gain over 4%, was fueled by a potent combination of factors: extreme supply tightness highlighted by reports of constrained physical inventories, and strong speculative buying driven by dovish expectations for the Federal Reserve. As the market anticipates potential interest rate cuts, the opportunity cost of holding the non-yielding metal decreases, boosting its appeal as a monetary asset. At the same time, the metal's function as a critical industrial component in solar panels and electric vehicles has created a structural demand floor, leading to a historic breakout that has dramatically shifted the technical picture to one of accelerated bullish momentum.
Equity markets were near unchanged today also even with the higher than expected JOLTs report that was released led by the Russell trading up near 0.17%. Along with this, the crypto markets broadly rose today across the board led by SOL futures trading up over 4% on the day. The Fed will announce tomorrow what traders are assuming will be a 25-basis point interest rate cut, but the value will be in what Fed Chair Powell says about plans of futures rate cuts or pauses heading into the new year.
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