Silver prices close to record highs with speculators betting on tight supply.

Due to traders betting on a tightening supply of silver, the price of silver remains stable within a range of less than one dollar from its record high. The price of gold has not changed much. Silver is trading near $57.90 per ounce, having risen over 8% in the previous two trading days. In October, a record amount of silver flowed into the London market, easing the historic supply tightness but putting pressure on other trading centers. The stocks associated with the Shanghai Futures Exchange warehouse have recently hit a ten-year low. Market expectations of another interest rate cut by the Federal Reserve next week have also supported the prices of gold and silver. The market is almost certain that the Fed will cut rates by 25 basis points at the next meeting. As of the time of writing, the price of silver is basically flat, at $57.8879 per ounce. Gold prices remain stable, with a slight decrease in the previous trading day. Palladium and platinum have slightly declined.