December Silver futures rallied on a trade truce and Fed rate cut.

December Silver futures rallied for three consecutive sessions, reaching the highest level in about a week. The white metal is up a full 7.31% this week, setting up for the highest close since October 13th after bouncing off the 50-day moving average. The conclusion of the meeting between the U.S. and China with a trade truce is likely to benefit industrial metals. Silver has a stronger industrial component than gold while also serving as a flight to safety metal, giving it an outsize benefit from the positive economic news. The Federal Reserve also cut rates by 25 basis points and is ending quantitative tightening on December 1st, although the outlook for further cutting is not guaranteed.