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Silver Soars to Record Highs Driven by Gold’s Rally, Liquidity Squeeze
Silver prices rose to record highs Monday, driven by gold’s historic rally as investors rush to safe havens, and a massive liquidity squeeze in the London market. In afternoon European trade, silver futures in New York climbed 6.6% to $50.34 a troy ounce, while spot prices surpassed the $50 mark for the first time in more than four decades, rising 3.3% to $51.95 an ounce. “Silver and gold prices are typically intertwined because their main driver—private investment flows, whether through [exchange-traded funds] or speculative positioning—move in tandem,” analysts at Goldman Sachs said. Gold futures rose ... (full story)
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