Spot silver nears record highs as rate-cut bets strengthen
Spot silver climbed to about $54.30 per ounce on Friday, nearing its record high of $54.50 as rising rate-cut expectations fueled demand. The metal is set for its biggest weekly gain since late May and remains above its 50-day moving average despite recent pullbacks. ING noted China silver inventories have fallen to decade-low levels, signaling potential supply pressure.