Web Trader MT5 
Silver prices surged to a record high above $58.94 per ounce on, driven by severe supply shortages and expectations of upcoming Federal Reserve rate cuts. Silver has now doubled in price this year, far outperforming gold’s gain. Investors are piling into silver for both its safe-haven appeal and its strong industrial demand, especially as economic uncertainty persists.
Expectations of a Fed rate cut next month are also boosting non-yielding assets like silver and gold.
In the US market, stock futures rose Wednesday, with Dow Jones, S&P 500, and Nasdaq 100 futures up 0.2%. On Tuesday, the three major indices closed higher as Nvidia and bitcoin rebounded, despite early-session weakness and ongoing volatility in AI-related stocks. Investors are watching for a potential year-end rally after a weak November and ahead of the Fed’s interest rate decision on 10 December. Markets now see an 89% chance of a rate cut. Attention also turns to Wednesday’s ADP jobs report, expected to show a steady labor market.
In the Forex market, EUR/USD climbed to around 1.1645 othis morning, supported by expectations that the ECB has finished cutting rates. Traders now await U.S. ADP employment data and the ISM Services PMI later today, which may provide insights into the U.S. labor market and economic outlook.
Bitcoin jumped 2.3% today after an increase of 6.4% on Tuesday. The cryptocurrency is currently trading at $93,900, rebounding after weeks of heavy selling and its first break below $90,000 since April. The global crypto market cap rose to $3.17 trillion, with Bitcoin’s market value up 8% to $1.7 trillion. Ethereum also rallied back above $3,000
The rebound comes after Bitcoin ended November with a steep monthly loss. Despite the recent turmoil, expectations for a Federal Reserve rate cut in December have strengthened due to softer U.S. economic data and easing inflation pressures, helping stabilize sentiment.
In Australia, Q3 GDP numbers showed a growth of 2.1% year-on-year, the fastest pace in almost two years but slightly below expectations of 2.2%.
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