Why has the price of silver hit a record high?

Silver prices have reached a record high due to expected US Federal Reserve interest rate cuts and strong demand from the technology industry. As the US dollar weakens and interest rates fall, investors are turning to precious metals like silver and gold as safe-haven assets. This surge in silver prices, crossing $60 an ounce, follows a similar trend in gold, which has also seen gains this year amidst global economic uncertainty and tariff concerns. Analysts predict that the rally in silver is in part a spillover effect from the remarkable performance of gold, which has increased over 50% this year.