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Silver price today hits record $54.76, gold surges to $4,192 why precious metals are rallying

Silver price today: Silver prices have reached an all-time high, breaking previous records. This surge is fueled by expectations of a Federal Reserve interest rate cut and strong demand for silver-backed investments. Supply issues persist, impacting markets globally. China's silver inventories are at their lowest since 2015. Meanwhile, gold prices also saw a significant rise, nearing recent peaks.