Spot silver rises 2.6% to $59.66 per ounce, hitting record high. Prices rise as investors position for an expected December Federal Reserve rate cut and looked for signs of whether policymakers will outline a slower easing path when their two-day meeting begins later in the day.

Gold and silver stocks rose on Tuesday. Pan American Silver up over 7%; First Magestic Silver up 6%; Silvercorp Metals up 4%.