Silver climbs to fresh record high

Silver climbed more than 1% to above $57 per ounce on Monday, reaching a fresh record high as supply concerns and expectations of US interest-rate cuts continued to support gains.

The spot price rose as much as 1.4% to $57.29, surpassing Friday’s peak, when trading on the Chicago Mercantile Exchange was disrupted for several hours due to a data-center outage.

Meanwhile, inventories at Shanghai Futures Exchange-linked warehouses recently fell to near-decade lows.

Adding to the momentum, markets are now fully pricing in a quarter-point rate cut in the US, following labor-market weakness and dovish signals from Federal Reserve officials.

Delayed economic data after the government’s six-week shutdown has further strengthened the case for lower borrowing costs, supporting non-yielding assets.

Separately, traders are watching potential tariffs after silver was added to the US critical minerals list, which could curb exports and limit supply relief.