Silver Prices Hit Historical Peak: Exceeded 53 Dollars

Historic High Level in Silver

Silver has reached nearly 53 dollars per ounce, achieving an all-time high due to a historic short-selling event in London. This impressive surge is supported by the increasing demand for safe-haven assets among investors.

Spot Prices on the Rise

Spot silver prices in London rose by 1%, reaching as high as 52.8983 dollars per ounce. This figure has surpassed the peak seen at the Chicago Board of Trade in January 1980.

Increase in Gold Prices

A similar rise was observed in gold prices. Gold prices have reached a new record level following eight consecutive weeks of gains.

Liquidity Concerns in the Markets

The liquidity shortage in London has triggered a global search for silver, causing benchmark prices to reach unprecedented levels compared to New York. This situation has led some investors to transport silver bullion across the Atlantic to take advantage of the higher prices in London.