#美联储重启降息步伐 Silver is quite interesting today—the spot price has unexpectedly dropped by 1%, and this is happening against the backdrop of a more than 90% market expectation for a rate cut in December.

The reason for the drop isn’t hard to understand. Silver’s gains have already doubled this year, so many institutions are cashing out before the end of the year, resulting in concentrated profit-taking pressure. From a technical perspective, it has also entered overbought territory, so a correction is reasonable.

But the fundamental story isn’t over yet: global silver inventories have fallen to the lowest level in a decade. Demand from the photovoltaic industry and AI computing centers continues to grow, and this rigid consumption has created a supply-demand gap for five consecutive years. Short-term price fluctuations won’t change the long-term tight supply-demand balance.

Now the key is whether the $57 support level can hold. Before the rate cut is officially announced, prices are likely to fluctuate within this range. As for whether this pullback is a trend reversal or a buying opportunity? That depends on how capital flows after the rate cut policy is formally announced. $ETH $BTC $SOL