Silver Hits Record $61/oz; Gold Also Rises on Rate Cut Hopes, Industrial Demand

• Gold and silver prices rose, with silver reaching a historic high of $61 per ounce.
• Silver's surge is driven by supply shortages, declining global inventory, and strong industrial demand expectations.
• Future industrial use in solar energy, electric vehicles, data centers, and AI is accelerating silver purchases.
• Potential US Fed rate cuts and silver's inclusion in the US Critical Minerals list also supported prices.
• Gold's rally is linked to silver's jump and rate cut expectations, despite recent strong job data.

Why It Matters: Rising gold and silver prices reflect market shifts and economic trends impacting your finances.