Silver Nears Record High on Strong ETF Inflows, Rate Cut Hopes

• Silver is nearing a record high, fueled by significant inflows into exchange-traded funds (ETFs).
• Silver-backed ETF holdings increased by almost 590 tons last week, indicating strong investor confidence.
• Expectations of Federal Reserve interest rate cuts are supporting silver's rally, alongside aftershocks from a historic short squeeze.
• Silver rose 0.3% to $58.4875 an ounce, approaching its previous record.

Why It Matters: Silver's record-high price affects investors and signals market direction.