Silver prices surged to historic highs, with spot silver rising as much as 3.7% above $52 an ounce. Concerns about liquidity in London drove silver closer to a $52.50-an-ounce record from 1980. Lease rates for silver, gold, and palladium surged, indicating a pull on London’s bullion reserves.

Gold, silver, platinum, and palladium have all surged between 55% and 82% this year. Market turmoil sparked by US-China trade tensions has boosted demand for safe-haven assets. China urged the US to halt tariff threats, warning of retaliation. Bank of America raised their end-of-2026 price target for silver to $65.

Traders await the conclusion of the US administration’s Section 232 probe into critical minerals, including silver. Silver futures on the Comex in New York jumped as much as 7% to a record $50.56 an ounce. In London, spot silver was up % at $ an ounce, while gold traded near a fresh record of $4,103.90.

Read more at Yahoo Finance: Silver Roars Higher as Short Squeeze Rocks the London Market