Silver powers on an almost record as London Market Squeeze aggravates

Silver jumped near a record for a second day, while a historic tightening of the London Spot Market Steam added to a rally powered by the demand for safe Havenbates. Spot prices rose to 3.7% from more than $ 51 a gram, while the cost of borrowing the precious metal for one month in London increased to an annual record of 35%. Gold and palladium also rose. Silver is rising by more than 75%this year, and has far exceeded Gold’s lead, as investors seek security in the light of fiscal uncertainties in the US, concerns about a over -heating stock market and threats to the independence of the federal reserve. Earlier this year, the fear that the US could charge the rates on silver, spurred a boom from metal to New York, drew stock in London and reduced the amount of metal available to borrow. Many of the silver in London is kept in safes that support exchange -traded funds, and not available to buy or borrow on the market. The density in London has resulted in a typical premium of a few cents for futures in New York in a discount of over $ 2.50 per ounces of prices. The extent of that disruption can eventually alleviate the market density in London, as traders buy cheaper metal in the US and send it to the UK to win higher prices. But for the time being, the squeeze prices are driving closer to a record of $ 52.50 and an ounce from 1980, set on a now decomposed contract on the Chicago Board of Trade. The 1980 record was set when the Hunt brothers, Texan oil -billionaires and notorious speculators, the world market tried over the fear of inflation. They decorated over 200 million ounces and drove the price of more than $ 50 per gram before it crashed below $ 11. Spot silver rose 1.5% to $ 50.02 per ounce in London at 11:09 p.m. Palladium jumped by 3%, while gold and platinum also rose. With the help of Sybilla Gross. © 2025 Bloomberg MP This article was generated from an automatic news agency feed without edits to text.