Silver climbed past $72 per ounce on Wednesday, advancing for the fourth straight session to reach a fresh high, driven by expectations of US rate cuts and safe-haven demand. Traders are currently pricing in the possibility of two interest rate reductions next year, as mixed economic indicators heightened expectations of Federal Reserve easing. Although third-quarter GDP expanded at a strong 4.3% annualized rate, softer consumer confidence in December and unchanged factory production in November have contributed to the view that monetary policy may be eased in the months ahead. Geopolitical tensions have also supported the rally. Last week, US President Donald Trump ordered a blockade of sanctioned Venezuelan oil tankers, with some unsanctioned vessels also affected. Year-to-date, silver has soared roughly 149%, driven by a combination of factors including a structural supply deficit, strong industrial demand, and its recent designation as a US critical mineral.
