Gold is no longer the number one winner of "interest rate cuts"? Silver may become the new favorite due to industrial supply and demand.
In addition to safe-haven sentiment, silver has another growth engine, which is industrial demand. Interest rate cuts will not only weaken the dollar but also support capital expenditure, infrastructure investment, and industrial demand.
In sectors such as semiconductors, data centers, the photovoltaic industry, and the electrification process, structural driving forces are becoming transformative sources of silver demand. In an environment where interest rate cuts support capital expenditure and artificial intelligence infrastructure development, the industrial properties of silver will become an advantage rather than a risk. Therefore, even without the impact of safe-haven sentiment, silver is expected to continue to rise.
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