Silver Nears Record High on Bets of Fed Cut, Supply Tightness
One kilogram silver bars stacked at the Perth Mint Refinery in Perth, Australia.
Photographer: Matt Jelonek/BloombergSilver traded near a record high as traders bet on further monetary easing by the Federal Reserve and supply tightness. Gold slipped.
The white metal whipsawed on Tuesday, slipping as much as 2.4% before rising 1.1% to approach the all-time high of $58.8434 hit the prior day. Silver is heading for its best annual performance since 1979, after having nearly doubled this year.