Silver Soars 100% YoY as Rate-Cut Bets Fuel Rally; Crypto Awaits Catalyst
Precious metals are stealing the spotlight in 2024's commodity rally, with silver doubling year-to-date to touch $57.86/oz amid dovish Fed expectations and industrial demand. Gold follows closely behind, breaching $4,240/oz as investors pivot toward hard assets.
Meanwhile, cryptocurrencies languish NEAR 30% below peaks. Bitcoin's slump coincides with ETF outflows and on-chain liquidations, contrasting sharply with metals' momentum. The divergence highlights shifting risk appetites as traders price in potential rate cuts.
Market veterans note silver's surge often precedes inflationary periods—a scenario that historically buoyed crypto assets. Yet digital markets remain subdued, awaiting either a macro catalyst or institutional inflow resurgence to mirror metals' breakout.