Following the first US interest rate cut this year, there have been suggestions from the US Federal Open Market Committee that interest rates are still too high. The continued gold price and silver rallies come after the WGC and the Silver Institute investigated market options. Australia on the RiseThe Silver Institute reported recently that physical investment is a structurally important part of global silver demand, and the most volatile. The report found that Australia had emerged as the world’s fourth-largest physical silver market in recent years, driven by two main factors—the increasing investment in silver by retirement accounts, and the favourable tax structure applicable to physical silver investment products. Analysts forecast physical silver demand in Australia will rise by 11% this year as cost-of-living-related selling, as inflation edges lower and interest rates fall.