Spot silver climbs to $60 for first time on Fed easing, tight supply

• Spot silver climbed to $60 per ounce for the first time, reaching $60.535 an ounce.
• The rise is attributed to expectations of a Federal Reserve rate cut on Dec. 9-10.
• Continued supply tightness in the physical market also contributed to silver's advance.
• Gold prices also gained, supported by anticipated monetary easing and central bank purchases.

Why It Matters: Record silver prices reflect significant shifts in monetary policy and market supply.