US Rate Cut Hopes + Falling Inventories Lift Silver Prices: Why Did Supply Shrink Again in November?
In November, domestic silver ingot inventories continued the destocking trend, driven by export profits, constraints in raw material supply, and regional maintenance, among other factors. Currently, the silver market is in a phase where macro tailwinds and fundamental support resonate. Against the backdrop of strengthening expectations for US Fed interest rate cuts, low spot inventories, and steady industrial demand, the strong momentum in silver prices is expected to continue. Market participants should remain vigilant in monitoring changes in US Fed monetary policy, inventory changes, and the actual performance of end-use demand such as PV.
