In pre-market trading on Thursday (June 6), spot silver rose more than 4%, reaching a new high of $31.30 per ounce this month. Spot gold rose nearly 0.7% to $2,371 per ounce. At the same time, the US stock market's silver, gold and precious metals mining sectors all strengthened, with MAG Silver rising more than 5% in the silver sector; Coeur Mining rising nearly 7% in the gold sector; and Platinum Group Metals rising over 13% in the mining industry.

At the same time, the US stock market's silver, gold and precious metals mining sectors all strengthened, with MAG Silver rising more than 5% in the silver sector; Coeur Mining rising nearly 7% in the gold sector; and Platinum Group Metals rising over 13% in the mining industry.

In pre-market trading in the USA, the European Central Bank announced that it would cut the main refinancing rate, the marginal lending rate and the deposit facility rate by 25 basis points to 4.25%, 4.50% and 3.75%, respectively. This is the first interest rate cut since September 2019, marking the formal end of this round of rate hikes.

Since then, more than half of the economies in the G7 have entered a rate-cutting cycle, including France, Germany, and Italy, as well as Canada, which cut rates yesterday. Shortly before publication, Democratic Senator Elizabeth Warren urged the Federal Reserve to begin cutting interest rates.

Market expectations for a rate cut by the Federal Reserve have also changed. As of publication, the CME Group's 'FedWatch' tool showed a near-70% probability of a rate cut at the September meeting, with the most likely rate level by the end of the year being 50 basis points lower than current levels, or two rate cuts.

This has led to the latest report from Real Estate Development showing that 30-year fixed-rate mortgages in the United States have fallen below the key level of 7%, reaching 6.99%. In the US stock market, only the real estate development sector is currently performing better than the precious metals and mining sectors.

In addition to central bank factors, Yemeni Houthi military spokesperson Yahya Sariya made a speech stating that the Houthi armed forces have cooperated with the Iraqi resistance organization to launch two military operations against Israel. The first attacked two ships carrying military supplies in the Israeli port of Haifa. The second attack targeted a ship heading to Haifa port.

Yahya Sariya stated that the two operations used drones and accurately hit their targets. If true, this is the first time that the Houthis have announced attacks on targets along the Mediterranean coast of Israel. However, the Israeli military quickly denied the claim, calling it 'untrue.'

Earlier today, the International Energy Agency (IEA) released its annual World Energy Investment Report, which predicts that thanks to improvements in supply chains and lower clean technology costs, global expenditure on clean energy technology and infrastructure will reach $2 trillion by 2024, twice the investment in fossil fuels over the same period.

The IEA noted that solar photovoltaics will lead the transformation of the electricity industry: now, more money is invested globally in photovoltaic electricity generation than in all other electricity generation technologies combined. By the end of 2024, with new investments stimulated by falling photovoltaic module prices, annual investments in solar photovoltaics will grow to $500 billion.

It is understood that photovoltaic power generation equipment manufacturing is mainly divided into five parts: silicon materials, silicon wafers, photovoltaic cells, photovoltaic modules, and photovoltaic systems. Among them, photovoltaic cells and modules can be divided into photovoltaic glass, EVA, silicon metal, and silver paste circuits.

Last month, Coeur Mining's CEO, Mitchell J. Krebs, mentioned that the industrial demand for silver is skyrocketing due to the promotion of electrical applications such as photovoltaics, while supply is remaining stable or even decreasing.

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