Silver surges to record highs amid Fed rate cut bets, supply squeeze

• Silver prices hit a new record of $60.9213 per ounce on Wednesday.
• The surge is attributed to expectations of a Federal Reserve interest rate cut and tight supply.
• Lower borrowing costs benefit non-yielding precious metals like silver.
• Silver's value has more than doubled this year, surpassing gold's 60% increase.
• Traders are also monitoring potential US tariffs on silver, which was recently added to the critical minerals list.

Why It Matters: Silver's record high impacts investments due to Fed cuts and supply issues.