Silver prices hit a record high, with an increase of over 90% this year.

During the Asian trading session on December 1st, the London spot silver price hit a new historical high, surpassing $57 per ounce for the first time. As of 10 am Beijing time, the London spot silver price was reported at $57.7 per ounce, a 2.3% increase. Since the beginning of this year, the international silver price has risen by over 90%, outperforming gold by a wide margin. Analysts point out that the recent increase in market expectations for a rate cut by the Federal Reserve has provided solid support for silver and the entire precious metals market. The latest data from the CME Group's FedWatch tool shows that the market predicts an 87.4% probability of a 25 basis points rate cut by the Federal Reserve in December. Additionally, Jerome Powell, who is perceived to have a dovish stance, is a popular candidate for the next Chair of the Federal Reserve, further enhancing market confidence in a future low-interest rate environment.