Silver prices witnessed sharp volatility during Wednesday’s trading as they jumped to a new record high before falling as investors awaited the release of delayed US economic data. While gold prices stabilized. The white metal fell as much as 1.6% after hitting a high of $58.9471 an ounce earlier in the session. Investors are waiting for economic figures delayed by the US government shutdown to get a clearer picture showing the strength of the US economy. Jobs and industrial production data are scheduled for release later today. Silver price and near-term interest expectations, traders estimate a rate cut during the next Federal Reserve meeting. The new Federal Reserve chairman, who is expected to be appointed, is also expected to reflect US President Donald Trump’s supportive approach to monetary easing, while recent gains in precious metals reflect bets on further cuts after the end of Jerome Powell’s term in May. Silver and gold usually benefit from low interest rates because they do not generate a return. Silver stocks under scrutiny Silver also received support from a flurry of bets on supply shortages. Last month saw a record inflow of silver into London Stock Exchange warehouses, putting pressure on storage centers in other markets. Also read: The fall in silver stocks in China puts the burning market on the brink of a new danger. Shares in warehouses linked to the Shanghai Futures Exchange fell to their lowest levels in a decade. Continued investment interest in silver According to Bloomberg calculations, holdings of exchange-traded funds backed by silver rose by about 200 tonnes on Tuesday, in an indication of continued investment interest in the metal, which is reaching its highest levels since 2022. Also read: The cost of borrowing silver falls as the historic liquidity crisis subsides. Ahmed Asiri, a strategist at the Pepperstone Group, said: “Quick deal traders prefer markets in which price drops do not last long, because any small drop in price is immediately offset by a large shortfall.” In stocks, which brings prices back quickly and increases volatility. Silver prices were down 0.4% at $58.2241 an ounce at 11:30 am London time. While gold settled at $4,205.36 an ounce, little changed after a two-day slide. Palladium fell while platinum stabilized. While the Bloomberg Dollar Spot Index fell 0.3%. (Prices have been updated to reflect market movements)