Original title: Silver Climbs Past $40 as US Rate-Cut Bets Fuel Investor Demand
Silver traded above $40 an ounce for the first time since 2011 as expectations grew for an interest-rate cut by the Federal Reserve this month, boosting investor appetite for precious metals. Spot silver rose as much as 1.4% to $40.2920 an ounce on Monday, taking gains for this year to more than 40% in a rally alongside gold, platinum and palladium. Bullion climbed as much as 0.7% to start the week, hitting its highest since a record in April.