The spot price of silver has reached a new high due to a shortage in London
Silver prices have risen by 2.6%, reaching $54.76 per ounce, which is a new high, surpassing the figures from October. The market situation is fueled by speculation about a possible Federal Reserve interest rate cut.
Silver continues to rise in value amid unstable supplies and increased investments in bullion-backed exchange-traded funds. According to Bloomberg, the metal’s price climbed to $54.76 per ounce, marking a 2.6% increase. The main factor supporting prices is the expectation of a Federal Reserve interest rate cut in December. This has prompted investors to invest in exchange-traded funds that hold physical silver.
Last month, the market experienced a supply shortage in London, significantly impacting the price of silver and pushing it to current levels. Although the situation has partially stabilized with the arrival of 54 million troy ounces, the market remains tense. The movement of large silver flows to London has pressured other trading centers, particularly in China. According to the Shanghai Futures Exchange, silver stockpiles have dropped to the lowest level since 2015, while trading volumes at the Shanghai Gold Exchange have hit the lowest figures in nine years.
In November, silver was added to the list of critical minerals by the US Geological Survey, adding uncertainty for traders about possible tariffs on metal imports. This has sparked additional interest in the market.
As of the morning in New York, spot silver is priced at $55.11 per ounce, up 3.2% from earlier. Gold is also rising, adding 1.1% to $4201.43 per ounce.
| Metal | Price per ounce | Change (%) |
| Silver | $55.11 | +3.2% |
| Gold | $4201.43 | +1.1% |
