Silver prices have punched through $60 per ounce for the first time amid a historic rally driven by a scarcity of supply and a surge in demand from investors.
The metal has more than doubled in price since January, as years of undersupply, compounded by strong demand from industrial users and investors, led to shortages and a severe supply squeeze in October.
Silver jumped 4 per cent on Tuesday to reach $60.4 per ounce, a fresh record high. Gold also rose 0.7 per cent to reach $4,216 per troy ounce, slightly below the record set in October.
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