Silver traded near an all-time high, after US payroll data reinforced bets that the Federal Reserve will cut interest rates in its final policy meeting of the year. Gold was little changed.
The white metal was steady at around $58.50 an ounce, within a dollar of a record set in the previous session. Silver rose for eight straight days through Wednesday, supported by speculative wagers linked to supply tightness and expectations for lower borrowing costs in the US – a tailwind for precious metals, which don’t pay interest.